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SBDC Info Session: CCRPC’s Financing Programs
May 7, 2019 @ 12:00 PM - 1:00 PM
Celebrating National Small Business Week: May 5 – 11, 2019
The Champaign County Regional Planning Commission (CCRPC) offers financing for business startups, expansions, and economic development projects. The RPC’s Economic Development Division is a central resource for a variety of innovative financing programs for businesses, organizations, and governments in East Central Illinois.
These programs are intended for projects that cannot fully access conventional lending resources.
The three programs:
- Community Development Assistance Program (CDAP): Loans for businesses and organizations located anywhere in Champaign County. Loans between $5,000 and $1,000,000; up to 50% of the total project cost. Eligible for working capital, machinery, equipment, inventory, real estate, infrastructure projects, and many other uses.
- Intermediary Relending Program (IRP): Loans for businesses, organizations, and governments in communities of less than 25,000 population in the East Central Illinois counties of Champaign, Douglas, Ford, Iroquois, Piatt, and Vermilion. Loans between $5,000 and $250,000; up to 49% percent of the total project cost. Eligible for working capital, machinery, equipment, real estate, rural government infrastructure projects, and many other uses.
- Champaign County Community Development Corporation (CDC): Financing of businesses located anywhere in Champaign County and surrounding communities. Each CDC loan should be matched by member bank financing. Loans or equity investments; up to 50% of the total project cost. Eligible for working capital, machinery, equipment, real estate, and other uses. Participating member banks include BankChampaign, Busey Bank, Central Illinois Bank, Chase Bank, First Midwest Bank, Midland States Bank, and PNC Bank.
Kathy Larson, RPC’s Economic Development Specialist, will provide an overview of the financing programs, including eligibility details and application requirements. A Q&A session will follow the presentation.
Date: Tuesday, May 7, 2019
Time: 12 – 1 PM
Location: Illinois Small Business Development Center at Champaign County EDC – 1817 S. Neil Street, Suite 100, Champaign, IL 61820
RSVP: Free to attend – registration required to secure a spot. Limited space available. RSVP below, email firstname.lastname@example.org, or call 217-378-8535. All materials will be provided.