April 18, 2018
If you’re an aspiring entrepreneur, make sure to attend an upcoming presentation on the RPC’s various financing programs. National Small Business Week is April 29 through May 5, and on Wednesday, May 2, RPC Economic Development Specialist Kathy Larson will provide an overview of the programs we have available.
The session will take place from 9-10am at the Illinois Small Business Development Center at Champaign County EDC (1817 S. Neil Street, Suite 100, Champaign). While the session is free to attend, you are required to register to secure a spot since there is limited space available. You can RSVP to firstname.lastname@example.org or call 217-378-8535. All materials will be provided. Learn more through the Small Business Development Center’s website or Facebook page.
The RPC offers financing for business start-ups, expansions, and economic development projects. Businesses and organizations throughout Champaign County and East Central Illinois may be eligible to apply for financing of up to 50% of a project cost. Financing terms are affordable, flexible, and vary by program.
Our three programs are:
- 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.
- 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
- 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.