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START-UP PROGRAMS

100878665Business Start-Up Cost Amortization
Agency
US Department of Treasury
Program Description Business start-up and organizational costs are generally capital expenditures. However, you can elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred after October 22, 2004.
Funding Range Deductions of up to $5,000
Eligibility For-profit organizations

Marengo Revolving Loan Fund
Agency
City of Marengo, IL
Program Description The City of Marengo has a Revolving Loan Fund to provide financial assistance to new or expanding businesses; to help develop a stronger economic base; and to expand job opportunities, thus securing public benefit for all residents of Marengo.
Funding Range $30,000 – $150,000 or up to 45% of project costs
Eligibility Any existing or new business located in the City of Marengo creating new or retaining jobs

McHenry County Micro Loan Fund
Agency
County of McHenry, IL
Program Description  Funds can be used for a wide variety of purposes including: building expansion or renovation, leasehold improvements, moving costs, purchase of new or used machinery or equipment, inventory, and working capital. Projects of a purely speculative nature are not eligible for funding. Business plan required.
Funding Range $5,000 – $25,000
Eligibility Any new or expanding business located in McHenry County

McHenry County Economic Development Loan Fund
Agency
County of McHenry, IL
Program Description McHenry County operates an Economic Development Loan Fund for the purpose of encouraging economic growth and increasing the size of its commercial and industrial base. The Loan Fund can provide needed working capital for a new business or provide funding necessary to finance a rapidly growing firm that may be undercapitalized. Funds are issued based on jobs created. Business plan required.
Funding Range $50,000 – $200,000 or up to 45% of project costs
Eligibility Any new or expanding business located in McHenry County

 

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