The Turner Center for Entrepreneurship and Illinois Small Business Development Center (SBDC) at Bradley University invite you to a webinar on “Advantage Illinois” which is a participation loan program that helps Illinois businesses get term loan financing at lower rates.  Advantage Illinois may fill the gaps that prevent businesses from obtaining financing. Administered by the Illinois Department of Economic Opportunity and delivered via pre-approved Illinois lending institutions, the goal of Advantage Illinois is to help businesses grow, expand, and create new jobs at a faster rate.

As part of the State’s commitment to equitably support small businesses, the Illinois Department of Commerce & Economic Opportunity (DCEO) will leverage outreach partners that focus on engaging historically underrepresented populations who have faced significant barriers accessing capital. The U.S. Department of the Treasury’s SSBCI guidance formally defines those groups as: Socially and Economically Disadvantaged Individuals (SEDI) and very small businesses, or businesses with fewer than 10 employees. 

Topic points:

• Challenges Small Business Owners face obtaining financing
• DCEO’s Advantage Illinois program history and success
• What can the money be used for?
• Who qualifies?
• What are limits and rates?
• How does the process work and what is required?
• Application and vetting process.
• Typical Underwriting / Approval timeline and expectations.
• Layering Advantage Illinois with other programs.

Attendees will learn how the program works, learn how to find approved lenders, and discover the eligibility requirements to qualify for Advantage Illinois financing.