Small Business Credit Initiative

Advantage Illinois will accelerate investments and ease the credit crunch for small businesses, thanks to more than $78 million from the federal State Small Business Credit Initiative (SSBCI) of the Small Business Jobs Act of 2010.

Advantage Illinois consists of three programs to spur institutional lending to small businesses, with 750 or fewer employees, and one program to leverage private venture capital in start-ups and high-growth businesses. Illinois expects to generate a minimum “bang for the buck” of at least $10 in new private lending for every $1 of federal funding provided through this program, meaning at least $800 million in private dollars pumped into the economy to grow the small business sector. 

Click here for the program details.