Small businesses (especially start-ups) and financial institutions are invited to a presentation regarding how they can work together to increase economic growth in Monroe County utilizing Governor Pat Quinn’s small business financing initiative, Advantage Illinois. The presentation takes place on January 20th from 10:30 a.m. to 12 Noon on the second floor of the Monroe County Courthouse in Waterloo. The Advantage Illinois initiative will leverage $78 million in funding from the federal State Small Business Credit Initiative (SSBCI) to increase investments and ease the credit crunch for small businesses. The program is meant to encourage institutional lending to small businesses and also provides a mechanism for the state to leverage venture capital for high-growth enterprises.
Advantage Illinois is comprised of the following bank programs: the Capital Access Program (CAP), the Collateral Support Program, and the Participation Loan Program (PLP). The State administers the Invest Illinois Venture Fund (IIVF).
The presentation is open to the public. Sponsors include the Southwest Region Office of Regional Outreach for the Illinois Department of Commerce and Economic Opportunity, University of Illinois Extension and the Monroe County Economic Development Council.
State Representative Jerry F. Costello II will be in attendance to lend his insights and participate in the discussion.
For more information, contact University of Illinois Extension Community and Economic Development Educator Nora Feuquay at (618) 939-8681 x.309.
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