Industrial Development Revenue Bond
Agencies Illinois Finance Authority
Program Description Program issues tax-exempt Industrial Revenue Bonds (IRB’s) on behalf of manufacturing companies to finance the acquisition of fixed assets such as land, buildings and equipment. Bond proceeds also may be used for either new construction or renovation.
Funding Range Rarely less than $1.5million
Eligibility Manufacturing Companies
Trade Adjustment Assistance for Firms (TAAF)
Agency US Department of Commerce
Program Description This federal program offers a 50/50 match for projects to improve a businesses global competitive stance. It is available to primarily mid-sized manufacturers that have lost 5% of their profits or 5%of their workforce due to foreign competition.
Funding Range $75,000 Maximum
Eligibility Manufacturing and other businesses
Business and Industry (B&I) Guaranteed Loan
Agency US Department of Agriculture
Program Description This program can guarantee loans for up to 30 years for a manufacturer or other business to provide employment, improve the economic or environmental climate of the area, or promote the conservation of water or energy resources.
Funding Range $25,000,000 Maximum
Eligibility Manufacturing and other businesses
Industrial Participation Loan Program
Agency Illinois Finance Authority
Program Description IFA assists businesses that create/retain jobs by offering loan participation with banks. Loans finance asset acquisition (construction, land, buildings, renovation, machinery, equipment)
Funding Range Lesser of $500,000 or 50% from borrowers bank
Eligibility Job creating companies
