This is a City of Effingham program, that can provide a low-interest loan to qualified firms. Loans are based on the total new investment and the number of jobs being created. This program is available through the South Central Illinois Regional Planning and Development Commission . The program is used in conjunction with a combination of business equity and conventional lending.
Firms can apply for funds on a project by project basis.
Interest rates and terms are determined by the market and normally would be similar to those offered by the sponsoring bank. The State of Illinois has several training programs available. Among the various programs, is the Illinois Training Program, that is a local program coordinated by Lake Land College and the Illinois Manufacturers Association. Another program is the Industrial Training Program, which is a well-used program available through the Illinois Department of Commerce and Community Affairs.