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Possible online services disruption due to Internet related outage

A worldwide technology outage is causing disruption to some State of Illinois online systems.  We are aware of this issue and are diligently working on restoration.

State Small Business Credit Initiative

On March 11, 2021, President Biden signed into law the American Rescue Plan Act of 2021, which provided $10 billion to fund the State Small Business Credit Initiative (SSBCI 2.0). This builds on the initial State Small Business Credit Initiative (SSBCI 1.0), through which Illinois received over $78 million for the Advantage Illinois Participation Loan Program (PLP).

Illinois will receive up to $354.6 Million to administer four programs as part of the State Small Business Credit Initiative. The expanded program offerings through SSBCI will enable Illinois to support small businesses across the state - helping them attract more capital investment and expand or launch business operations while supporting key sectors. The Illinois Department of Commerce and Economic Opportunity (DCEO) is the implementing entity for Illinois’ SSBCI funding. DCEO will directly administer the Advantage Illinois loan programs and INVENT venture capital program and will have oversight of the Illinois Finance Authority’s (IFA) Climate Bank Finance loan program.

Advantage Illinois (AI) Participation Loan Program (Existing Program)

Advantage Illinois' existing Participation Loan Program (PLP) provides low-interest loans to small businesses by partnering with local lenders located across the state. In 2022, 71 percent of AI loans went to businesses owned by people of color, women, people with disabilities, or veterans.

Advantage Illinois (AI) Loan Guarantee Program (New Program)

Advantage Illinois' new Loan Guarantee Program (LGP) will support business applicants who are having difficulty obtaining access to capital by using funds to guarantee a percentage of loans provided by partner lenders. 

INVENT Venture Capital Program (VCP) (New Program)

The Innovation Venture Fund (INVENT) will operate as a direct equity investment program, investing in early- and late-stage businesses with a focus on underserved start-ups facing systemic barriers and key industries such as agriculture, energy, information technology, life sciences, manufacturing, quantum information sciences and technology, and transportation. 

Climate Bank Finance Participation Loan Program (New Program)

This new program will be overseen by DCEO and administered by the Illinois Finance Authority (IFA), which will partner with local lenders to issue the loans.  As Illinois’ officially designated “Climate Bank”, IFA will be exclusively focusing on providing its SSBCI-supported financing for the start-up and/or expansion of ventures directly involving environmentally-supportive, “green” businesses, including those that address the adverse impacts of climate change.