Finance/Incentives

The Economic Development Council can facilitate financing through several financial programs and incentives. The primary programs available to businesses are offered through the McLean County Revolving Loan Fund, the Illinois Finance Authority, DCEO, the Illinois State Treasurer, SBA, workforce assistance programs and others.

The McLean County Revolving Loan Fund was established to provide financial assistance to new or expanding businesses and to serve the public policy goal of developing a stronger economic base and expansion of job opportunities in the county. The Illinois Finance Authority is a self-financed state authority that is principally engaged in issuing taxable and tax-exempt bonds, making loans and investing capital. Another Illinois agency, the Illinois Department of Commerce and Economic Opportunity (DCEO), offers the Illinois EDGE and Capital Access Program, while the Illinois State Treasurer’s Economic Program provides Illinois companies with access to affordable capital to expand their operations and retain or create jobs in the state. The Small Business Administration (SBA) offers business loans to small businesses that are growing and require funding to expand.

In addition to financing, the EDC collaborates with state and local partner agencies to provide a wide variety of training packages for companies from training individuals for a new career to helping keep workers’ skills in pace with new technologies and business practices.  For more details on these financing programs and other incentives available to businesses, please visit the links listed below the Finance/Incentives heading.