To remain competitive in the global economy manufacturers must continually update their equipment.  Investing in new technologies allows manufactures to increase production capacity and efficiency.  The goal of this program is to make adequate and affordable capital available to Illinois manufacturers for retooling,equipment  upgrades, and facility expansion.

DCEO will participate with local lending institutions in loan amounts of a minimum of $10,000 and a maximum of $750,000, or 25% of the total project, which ever is less. The participation amount will be at sub-prime rates.  The term of the loan is a maximum of 10 years, and a fee of 1-2% of loan amount may be required.

Eligibility

Existing Illinois manufacturing companies that employ less than 500 full-time workers, and are retooling, upgrading their equipment, or expanding their business are eligible for this program. Examples of eligible projects include: acquisition and development of land, building costs, fixtures, machinery, new and used equipment.

For  Further information please contact: