BUSINESS ASSISTANCE & INCENTIVES
EAST CENTRAL ILLINOIS DEVELOPMENT CENTER
ECIDC (East Central Illinois Development Corporation) unifies the community leadership, resources, and organizations concerned with economic development to promote east central Illinois.
DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY
Illinois DCEO (Department of Commerce and Economic Opportunity) offers a wide array of programs and services designed to help Illinois businesses thrive in today’s economy.
BUSINESS ESSENTIALS SUPPORT & TECHNOLOGY CENTER
Business Essentials Support & Technology Center (BEST) provides business counseling, on-line resume service, resource library, etc. sponsored by the Effingham Chamber of Commerce.
ILLINOIS SMALL BUSINESS DEVELOPMENT CENTER NETWORK
Illinois Small Business Development Center Network will help business to build and/or expand a business and is available to residents in either the Illinois Eastern Community Colleges or Lake Land College districts and if you are outside of the area, will refer you to the SBDC in your area.
SCORE offers both online and on-site workshops for business owners establishing their new businesses and for established entrepreneurs to market their business and manage the financial aspects of their venture.
SBA 504 LOAN PROGRAM-TYPE
SBA 504 Loan Program-Type: Fixed Rate Loan – Administrator: SCIRP&DC This program is available through the South Central Illinois Regional Planning and Development Commission. The objective of the program is to assist small and medium-sized start-up and existing businesses in obtaining long-term, subordinated financing for fixed assets with a low down payment. Financing up to $1 million may be obtained at fixed rates for 10 – 20 years based on $15,000 per job created or retained.
RURAL BUSINESS INVESTMENT LOAN PROGRAM
Rural business Investment Loan Program – Type: Fixed Rate Loan – Administrator: SCIRP&DC
The South Central Illinois Regional Planning and Development Commission functions as an “intermediary lender” to provide local financial assistance to credit worthy businesses. The program is used in conjunction with a combination of business equity and conventional lending. A maximum of $250,000 can be loaned under the program with affixed interest rate of 6.5% based on $25,000 loaned per job created or retained.