Climate Bank Finance
The Small Business Loan Program of the Illinois Finance Authority
This will be underlined.
- Though substantial funding has been designated for allocation to the State of Illinois, Treasury has not yet fully approved the State’s Application for SSBCI funds. Once this step occurs, IFA will finalize all legal documentation, fulfill its staffing requirements, and post its program terms, conditions, and other requirements on its website, https://www.il-fa.com/
- Note that all SSBCI-supported funding provided the Illinois Department of Commerce and Economic Opportunity and the Illinois Finance Authority may only be used to support the start-up or expansion of businesses physically located in Illinois.
- Borrowers do not apply directly to DCEO or IFA. All requests for SSBCI-funded assistance must be presented through a bank or other financial institution formally enrolled at DCEO and/or IFA.
- Grants are not available under SSBCI capital programs.
- As Illinois’ officially designated “Climate Bank”, IFA will be exclusively focusing on providing its SSBCI-supported financing for the start-up and/or expansion of ventures directly involving environmentally-supportive, “green” businesses, including those that address the adverse impacts of climate change.
Such projects include, but are not limited to;
- clean air/water projects and wastewater treatment
- production/installation of wind, hydro, or solar power equipment
- clean energy generation/alternative fuels, new battery technologies
- production/installation/servicing of electric vehicles and charging stations
- energy conservation
- bio-material production
- sustainable agricultural practices, etc.
If your planned request for SSBCI-supported financing is for an activity other than those climate change/environmentally green examples listed above, your request for program information should, instead, be directed to The Illinois Department of Commerce and Economic Opportunity, through its website, https://www2.illinois.gov/dceo/Pages/default.aspx