Commercial Lease Grant
$10,000 grant to lease vacant commercial space in McLean County (must be new lease space, not a relocation). For Small Businesses with an approved Business Plan from the Illinois Small Business Development Center of McLean County at Illinois Wesleyan University.
Required Documents
Approved Business Plan from the Illinois Small Business Development Center of McLean County at Illinois Wesleyan University
JUSTIFICATION FOR FINANCING - Please provide a letter from your participating land lord stating why this project is seeking CDC loan funds.
INCOME/CASH FLOW STATEMENTS - Actual/Year-to-Date (3 years past or projected)
BALANCE SHEET - Business Actual/Year-to-Date (3 years past or projected)
PERSONAL FINANCE STATEMENT
FEDERAL TAX RETURNS - Business and Owners for 3 years past or life of the business
SCHEDULE OF DEBT - Mortgages, loan agreements, promissory notes, lien
LEGAL DOCUMENTS - Corporate bylaws, partnership agreements, leases
Send completed applications and required documents to patrick@bnedc.org
Revolving Loan Fund
A 20% gap loan (up to $20,000) to supplement a traditional loan. The Revolving Loan last the life of the financial institution's loan with an interest rate of 0% and deferred payments for six months for non-forgivable costs.
Required Documents
Approved Business Plan from the Illinois Small Business Development Center of McLean County at Illinois Wesleyan University
JUSTIFICATION FOR FINANCING - Please provide a letter from your participating lender stating why this project is seeking CDC loan funds.
INCOME/CASH FLOW STATEMENTS - Actual/Year-to-Date (3 years past or life of business)
BALANCE SHEET - Business Actual/Year-to-Date (3 years past or life of business)
PERSONAL FINANCE STATEMENT
FEDERAL TAX RETURNS - Business and Owners for 3 years past or life of the business
SCHEDULE OF DEBT - Mortgages, loan agreements, promissory notes, lien
LEGAL DOCUMENTS - Corporate bylaws, partnership agreements, leases
Send completed applications and required documents to patrick@bnedc.org