{"id":43,"date":"2013-07-19T13:53:21","date_gmt":"2013-07-19T13:53:21","guid":{"rendered":"https:\/\/www.dgedc.com\/?page_id=43"},"modified":"2022-11-09T15:04:01","modified_gmt":"2022-11-09T21:04:01","slug":"financing-your-project","status":"publish","type":"page","link":"https:\/\/www.dgedc.com\/downers-grove\/financing-your-project\/","title":{"rendered":"Financing Your Project"},"content":{"rendered":"
[et_pb_section fb_built=”1″ specialty=”on” _builder_version=”4.6.1″ _module_preset=”default” da_disable_devices=”off|off|off” locked=”off” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_column type=”2_3″ specialty_columns=”2″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_row_inner _builder_version=”4.6.1″ _module_preset=”default”][et_pb_column_inner saved_specialty_column_type=”2_3″ _builder_version=”4.6.1″ _module_preset=”default”][et_pb_text admin_label=”Title” _builder_version=”4.6.1″ _module_preset=”default” header_font=”|700||on|||||” header_font_size=”32px”]<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.6.1″ header_3_font=”|700||on|||||” header_3_text_color=”#06407c” background_size=”initial” background_position=”top_left” background_repeat=”repeat”]Downers Grove has many financial institutions that can provide financing for your business project. Below, we\u2019ve listed several resources, including state and federal, that we encourage you to take advantage of.[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][et_pb_row_inner _builder_version=”4.6.1″ _module_preset=”default”][et_pb_column_inner saved_specialty_column_type=”2_3″ _builder_version=”4.6.1″ _module_preset=”default”][et_pb_accordion _builder_version=”4.6.1″ _module_preset=”default”][et_pb_accordion_item title=”BANKS” open=”on” _builder_version=”4.6.1″ _module_preset=”default” toggle_level=”h5″ toggle_font=”|700|||||||” toggle_font_size=”17px” toggle_font_size_tablet=”” toggle_font_size_phone=”14px” toggle_font_size_last_edited=”on|phone”]<\/p>\n
American Chartered Bank<\/strong> <\/p>\n BankFinancial<\/strong> <\/p>\n Chase Bank<\/strong> <\/p>\n Chase Bank<\/strong> <\/p>\n Chase Bank<\/strong> <\/p>\n Citibank<\/strong> <\/p>\n Community Bank of Downers Grove<\/strong> <\/p>\n Community Bank of DuPage<\/strong> <\/p>\n \u00a0Old Second Bank<\/strong> <\/strong><\/p>\n <\/strong><\/p>\n PNC Bank<\/strong> <\/p>\n PNC Bank<\/strong> <\/p>\n U.S. Bank<\/strong> <\/p>\n U.S. Bank<\/strong> <\/p>\n [\/et_pb_accordion_item][et_pb_accordion_item title=”ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY: ADVANTAGE ILLINOIS” _builder_version=”4.6.1″ _module_preset=”default” toggle_level=”h5″ toggle_font=”|700|||||||” toggle_font_size=”17px” toggle_font_size_tablet=”” toggle_font_size_phone=”14px” toggle_font_size_last_edited=”on|phone” open=”off”]Advantage Illinois consists of multiple programs to encourage institutional lending to small businesses, as well as the Invest Illinois Venture Fund to leverage private capital in start-ups and high-growth sectors. Advantage Illinois is funded by $78 million in federal funds from the State Small Business Credit Initiative (SSBCI) which is reserved in a State Treasurer’s account solely for this purpose.<\/p>\n http:\/\/www.illinois.gov\/dceo\/SmallBizAssistance\/Financing\/AdvantageIllinois\/Pages\/default.aspx<\/a>[\/et_pb_accordion_item][et_pb_accordion_item title=”ILLINOIS FINANCE AUTHORITY: INDUSTRIAL REVENUE BONDS” _builder_version=”4.6.1″ _module_preset=”default” toggle_level=”h5″ toggle_font=”|700|||||||” toggle_font_size=”17px” toggle_font_size_tablet=”” toggle_font_size_phone=”14px” toggle_font_size_last_edited=”on|phone” open=”off”]Administered through the Illinois Finance Authority, the industrial revenue bond program provides the authority with the ability to issue tax exempt IRBs on behalf of Illinois manufacturers looking for long term financing on the purchase or renovation of fixed assets such as land, building, and equipment. IRBs may finance up to 100 percent of the total costs for qualifying projects of at least $1.5 million. Terms of the bonds may not exceed 10 years. A $1,500 non- refundable fee is required upon submission of application.<\/p>\n http:\/\/www.il-fa.com\/<\/a>[\/et_pb_accordion_item][et_pb_accordion_item title=”THE U.S. SMALL BUSINESS ADMINISTRATION LOAN PROGRAMS” _builder_version=”4.6.1″ _module_preset=”default” toggle_level=”h5″ toggle_font=”|700|||||||” toggle_font_size=”17px” toggle_font_size_tablet=”” toggle_font_size_phone=”14px” toggle_font_size_last_edited=”on|phone” open=”off”]The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.<\/p>\n The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.<\/p>\n http:\/\/www.sba.gov\/about-offices-content\/2\/3161<\/a>[\/et_pb_accordion_item][et_pb_accordion_item title=”ILLINOIS BUSINESS FINANCIAL SERVICES” _builder_version=”4.6.1″ _module_preset=”default” toggle_level=”h5″ toggle_font=”|700|||||||” toggle_font_size=”17px” toggle_font_size_tablet=”” toggle_font_size_phone=”14px” toggle_font_size_last_edited=”on|phone” open=”off”]IBFS is a Certified Development Company (CDC) that works in partnership with the U.S. Small Business Administration (SBA). Since 1981, Illinois Business Financial Services has been developing diversified loan programs for small businesses, utilizing the SBA 504 and other loan programs to create jobs and millions of dollars in project funding.<\/p>\n http:\/\/www.ibfs.org\/<\/a>[\/et_pb_accordion_item][\/et_pb_accordion][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_sidebar orientation=”right” _builder_version=”4.6.1″ _module_preset=”default”][\/et_pb_sidebar][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Financing Your Project Downers Grove has many financial institutions that can provide financing for your business project. Below, we\u2019ve listed several resources, including state and federal, that we encourage you to take advantage of.American Chartered Bank 2205 Butterfield Road, Downers Grove, IL 60515 630.515.3700 www.americanchartered.com BankFinancial 5140 Main Street, Downers Grove, IL 60515 630.242.7000 […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":18,"menu_order":10,"comment_status":"open","ping_status":"open","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"Downers Grove has many financial institutions that can provide financing for your business project. Below, we've listed several resources, including state and federal, that we encourage you to take advantage of.\r\n\r\n[accordion title=\"BANKS\" style=\"style2\"]\r\n\r\nAmerican Chartered Bank<\/strong>\r\n2205 Butterfield Road, Downers Grove, IL 60515\r\n630.515.3700\r\nwww.americanchartered.com<\/a>\r\n\r\nBankFinancial<\/strong>\r\n5140 Main Street, Downers Grove, IL 60515\r\n630.242.7000\r\nwww.bankfinancial.com<\/a>\r\n\r\nChase Bank<\/strong>\r\n1200 Ogden Avenue, Downers Grove,\u00a0IL\u00a060515\r\n630.963.4100\r\nwww.chase.com<\/a>\r\n\r\nChase Bank<\/strong>\r\n62 Ogden Avenue, Downers Grove,\u00a0IL\u00a060515\r\n630.663.0844\r\nwww.chase.com<\/a>\r\n\r\nChase Bank<\/strong>\r\n6241 Main Street, Downers Grove,\u00a0IL\u00a060516\r\n630.963.8443\r\nwww.chase.com<\/a>\r\n\r\nCitibank<\/strong>\r\n5134 Main Street, Downers Grove, IL 60515\r\n630.968.3902\r\nwww.citi.com<\/a>\r\n\r\nCommunity Bank of Downers Grove<\/strong>\r\n1111 Warren Avenue, Downers Grove, IL 60515\r\n630.968.4700\r\nwww.downersgrovebank.com<\/a>\r\n\r\nCommunity Bank of DuPage<\/strong>\r\n535 Ogden Avenue, Downers Grove IL 60515\r\n630.743.4001\r\nhttps:\/\/www.metropolitanbank.com\/<\/a>\r\n\r\nPNC Bank<\/strong>\r\n401 Ogden Avenue, Downers Grove, IL 60515\r\n630.969.4960\r\nwww.pnc.com<\/a>\r\n\r\nPNC Bank<\/strong>\r\n7351 Lemont Road, Downers Grove, IL 60516\r\n630.435.1400\r\nwww.pnc.com<\/a>\r\n\r\nU.S. Bank<\/strong>\r\n5100 Main Street, Downers Grove, IL 60515\r\n630.515.4922\r\nwww.usbank.com<\/a>\r\n\r\nU.S. Bank<\/strong>\r\n2201 63rd Street, Downers Grove, IL 60516\r\n630.963.3350\r\nwww.usbank.com<\/a>\r\n\r\nWest Suburban Bank<\/strong>\r\n5330 Main Street, Downers Grove, IL 60515\r\n630.652.2000\r\nwww.westsuburbanbank.com<\/a>\r\n\r\nWest Suburban Bank<\/strong>\r\n2800 Finley Road, Downers Grove, IL 60515\r\n630.652.2000\r\nwww.westsuburbanbank.com<\/a>\r\n\r\n[\/accordion][accordion title=\"ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY: ADVANTAGE ILLINOIS\" style=\"style2\"]\r\n\r\nAdvantage Illinois consists of multiple programs to encourage institutional lending to small businesses, as well as the Invest Illinois Venture Fund to leverage private capital in start-ups and high-growth sectors. Advantage Illinois is funded by $78 million in federal funds from the State Small Business Credit Initiative (SSBCI) which is reserved in a State Treasurer\u2019s account solely for this purpose.\r\n\r\nhttp:\/\/www.illinois.gov\/dceo\/SmallBizAssistance\/Financing\/AdvantageIllinois\/Pages\/default.aspx<\/a>\r\n\r\n[\/accordion][accordion title=\"ILLINOIS FINANCE AUTHORITY: INDUSTRIAL REVENUE BONDS\" style=\"style2\"]\r\n\r\nAdministered through the Illinois Finance Authority, the industrial revenue bond program provides the authority with the ability to issue tax exempt IRBs on behalf of Illinois manufacturers looking for long term financing on the purchase or renovation of fixed assets such as land, building, and equipment. IRBs may finance up to 100 percent of the total costs for qualifying projects of at least $1.5 million. Terms of the bonds may not exceed 10 years. A $1,500 non- refundable fee is required upon submission of application.\r\n\r\nhttp:\/\/www.il-fa.com\/<\/a>\r\n\r\n[\/accordion][accordion title=\"THE U.S. SMALL BUSINESS ADMINISTRATION LOAN PROGRAMS\" style=\"style2\"]\r\n\r\nThe 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.\r\n\r\nThe Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.\r\n\r\nhttp:\/\/www.sba.gov\/about-offices-content\/2\/3161<\/a>\r\n\r\n[\/accordion][accordion title=\"ILLINOIS BUSINESS FINANCIAL SERVICES\" style=\"style2\"]\r\n\r\nIBFS is a Certified Development Company (CDC) that works in partnership with the U.S. Small Business Administration (SBA). Since 1981, Illinois Business Financial Services has been developing diversified loan programs for small businesses, utilizing the SBA 504 and other loan programs to create jobs and millions of dollars in project funding.\r\n\r\nhttp:\/\/www.ibfs.org\/<\/a>\r\n\r\n[\/accordion]","_et_gb_content_width":"","inline_featured_image":false,"footnotes":""},"class_list":["post-43","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\n
2205 Butterfield Road, Downers Grove, IL 60515
630.515.3700
www.americanchartered.com<\/a><\/p>\n
5140 Main Street, Downers Grove, IL 60515
630.242.7000
www.bankfinancial.com<\/a><\/p>\n
1200 Ogden Avenue, Downers Grove,\u00a0IL\u00a060515
630.963.4100
www.chase.com<\/a><\/p>\n
62 Ogden Avenue, Downers Grove,\u00a0IL\u00a060515
630.663.0844
www.chase.com<\/a><\/p>\n
6241 Main Street, Downers Grove,\u00a0IL\u00a060516
630.963.8443
www.chase.com<\/a><\/p>\n
5134 Main Street, Downers Grove, IL 60515
630.968.3902
www.citi.com<\/a><\/p>\n
1111 Warren Avenue, Downers Grove, IL 60515
630.968.4700
www.downersgrovebank.com<\/a><\/p>\n
535 Ogden Avenue, Downers Grove IL 60515
630.743.4001
https:\/\/www.metropolitanbank.com\/<\/a><\/p>\n
2800 Finley Road, Downers Grove, IL 60515
630.652.2000
www.oldsecond.com<\/a><\/p>\n
401 Ogden Avenue, Downers Grove, IL 60515
630.969.4960
www.pnc.com<\/a><\/p>\n
7351 Lemont Road, Downers Grove, IL 60516
630.435.1400
www.pnc.com<\/a><\/p>\n
5100 Main Street, Downers Grove, IL 60515
630.515.4922
www.usbank.com<\/a><\/p>\n
2201 63rd Street, Downers Grove, IL 60516
630.963.3350
www.usbank.com<\/a><\/p>\n