IFA Industrial Revenue Bonds (IRBs) - Administered through the Illinois Finance Authority, the industrial revenue bond program provides the authority with the ability to issue tax exempt IRBs on behalf of Illinois manufacturers looking for long term financing on the purchase or renovation of fixed assets such as land, building, and equipment.  IRBs may finance up to 100 percent of the total costs for qualifying projects of at least $1.5 million.  Terms of the bonds may not exceed 10 years.  A $1,500 non- refundable fee is required upon submission of application.  If approved certain other fees will apply.  For further information click in the program title above.

IFA Participation Loan Program (IFA PLP) - Administered through the Illinois Finance Authority, the IFA PLP program is designed to provide Illinois industrial and manufacturing businesses that create or retain jobs, access to affordable financing.  Participation loans can provide financing for the purchase of land or buildings, construction or renovation of buildings, and the purchase of machinery and equipment.  The authority can participate with conventional lending institutions and provide the lesser of  $300,000 or 50 percent of the loan with terms not to exceed 10 years.  For further information click in the program title above.

IFA Rural Development Loan Program - Administered through the Illinois Finance Authority and in participation with the Farmers Home Administrations Intermediary Re-lending program, the Rural Development Loan program is designed to assist industrial businesses located in rural communities with a population of less than 25,000.  Eligible projects must demonstrate the creation or retention of Illinois jobs, and must demonstrate that conventional financing was not available.  The authority may lend up to 75 percent of project cost up to $150,000 at a set fixed rate of 6 percent.  A $100 application fee is required as well as a $225 commitment fee and a $225 loan-servicing fee.  For further information click in the program title above.

IFA State Guarantee Program for Agri-Industries - Administered through the Illinois Finance Authority, this program is designed to aide farmers and agribusinesses that wish to diversify into new enterprises or to further process existing crops or livestock.  Loans can be made to farmers or agribusinesses to purchase new or used property, equipment, or other capital items that will be used to enhance or add value to the agriculture product or process. Loans are made through a local lender who receives an 85% guarantee on the principal and interest of the loan.  The interest rate can be variable or fixed and must be less than the market rate of interest generally available to the borrower.  For further information click in the program title above.