Commercial Government Loan Programs in Illinois

Illinois (IL) Department of Commerce and Economic Opportunity (DCEO) Advantage Illinois Participation Program

The IL DCEO Advantage Illinois Program promotes job growth in Illinois. Small businesses must consider that loans within this program may only finance projects in Illinois. The IL DCEO will participate in a portion of the bank loan depending on the size of the loan and the number of jobs created.

Advantage Illinois Participation Program Requirements

  • Maximum participation is the lesser of:
    • 25% of the project cost;
    • 50% of the loan; or
    • $1.5 million
  • Maximum approval depends on the number of jobs added or saved as well as other economic benefits to Illinois

Minority, Disabled, Veterans, and Women-Owned Businesses Program Requirements

  • Maximum participation is the lesser of:
    • 50% of the project cost;
    • 50% of the loan; or
    • $400,000

The Minority, Disabled, Veterans, and Women-Owned Businesses is a sub-program of the IL DCEO Advantage Illinois Program.

The IL DCEO Advantage Illinois Participation Program can be used for a variety of financing needs, such as leasehold improvements, equipment, and working capital. This program is additionally intended for start-up business, business acquisition, business expansion, purchase of assets, and revolving lines of credit (RLOC).

We Can Help

We specialize in helping businesses succeed! Town and Country Bank and Peoples Prosperity Bank serve and empower local communities in Central Illinois and the Metro East, one person or business at a time. Our branch locations include Springfield, Jacksonville, Lincoln, Decatur, Bloomington, Edwardsville, Fairview Heights, and Quincy. When you need the best bank for business loans, don’t hesitate to contact us. Request a consultation with our business team today to learn more about commercial government loan programs in Illinois!