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Starting your own business can seem to be a daunting task. The following resources will help entrepreneurs develop find funding sources and training for their current or future businesses. The Business Assistance page provides entrepreneurs with specific tools to begin or continue running their business.
U.S Small Business Administration (SBA)
SBA was established in 1953 as an independent agency of the federal government tasked with aiding, assisting, counseling, and protecting the interests of small businesses. The SBA website contains a wealth of information on planning, managing, and funding your small business.
Illinois Department of Commerce and Economic Opportunity (DCEO)
DECO is the lead state agency for commerce and economic opportunity in Illinois. The website provides information on business assistance, workforce development, tourism, and funding opportunities.
State of Illinois Business Portal
This website, established by the State of Illinois, provides information for starting, running, and changing a business. It also contains business news, links to state agencies, and information on grants and loans.
Funding Sources
GLCEDC Loan Program
To assist businesses with start-up and expansion the GLCEDC offers a low interest loan participation program. This loan program is coordinated in conjunction with GLCEDC member banks. For more information, view the Business Assistance webpage or contact Larry Vaupel, GLCEDC CEO at 815-842-2900.
Local Resources
Your municipality may offer funding in the form of rent subsidies and facade grants. Contact GLCEDC for more information.
Mid Central Community Action, Inc.
Mid Central Community Action is partaking in the Community Service Block Grant(CSBG) Loan to assist in financing small businesses for either start-up or expansion projects. The purpose of this loan program is to create and retain jobs for low-income persons and to promote economic growth in McLean and Livingston Counties
Rent Subsidy Program, Dwight, IL
The Rent Subsidy Program will allow a tenant to receive a significant reduction in rent of a downtown business building for a year. The majority of the rent will be subsidized by the village and a portion subsidized by the landlord. The tenant will reimburse the village a portion of their gross receipts for the first year. Please contact the Village of Dwight for more information at (815) 584-3077. (source: The Paper 8/19/09)
The Commercial Rehabilitation Loan Program, Dwight, IL
This loan program is open to commercial building owners in the Village of Dwight. The programs is designed to provide low rate loans for the purpose of rehabilitating aging buildings. These lower interests loans come with a maximum term of 10 years and can only be used for capital projects. Please contact the Village of Dwight for more information at (815) 584-3077. (source: The Paper 8/19/09)
List of State and Federal Grants and Loans
Follow the link to an Excel file of grant and loan programs through state and federal sources.
State of Illinois Resources
Illinois Business Financing Matrix
The financing matrix gives information on all State of Illinois grant and loan opportunities in an easy to read format.
DCEO Loan Programs
DCEO Grants
DCEO Tax Assistance
IDOT Economic Development Transportation Program
Illinois State Treasurer's Employ Illinois Program
Illinois State Treasurer's Technology Development Account
Workforce Investment Act (WIA) Grant Opportunities
Federal Programs
Small Business Innovation Research
The largest Federal agencies must set aside a percentage (currently 2.5%) of their R and D budget for SBIR projects. In 2008 this represented over $2 billion of available funding. These projects are reserved for our domestic for-profit small businesses that are independently owned and operated by individuals (not large entities). The agencies pose problems, usually tough ones that they need solved to help fulfill their missions. The small businesses are invited to submit proposals for solving them, describing how they’re going to do the work and spend the money (up to $850K in two phases – feasibility and prototype development). The proposals are evaluated and the best ones are funded, based solely on the merits of the planned project, the qualifications of the team, and the potential for turning the technology developed into a business with potential customers being from both the government and the private sector.
Know Your Farmer, Know Your Food
This is a USDA-wide effort to create new economic opportunities by better connecting consumers with local producers. The website provides information on grants and loans for local farm businesses and community organizations.
Small Business Administration Financial Assistance Programs
Economic Development Administration Finance Assistance
Grants.gov
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Training and Networking
Illinois State University Small Business Development Center
The Illinois Small Business Development Center at Illinois State University (SBDC) was established in March 2005 in an effort to help entrepreneurs start new business and improve established businesses. SBDC offers one-on-one assistance in all phases of business activity and a free introductory seminar entitled "Starting Your Business in Illinois."
SCORE: Counselors to America's Small Business at Heartland Community College
Score is a national nonprofit association dedicated to entrepreneur education and the formation, growth and success of the nation's small businesses. Central Illinois SCORE provides free and confidential business advice and counseling tailored to meet the needs of your small business and your personal objectives. Central Illinois SCORE also offers workshops, for a modest fee, for both start-up and in-business entrepreneurs. Please visit the website for more information.
Illinois Small Business Development Center at Bradley
The Illinois Small Business Development Center at Bradley University provides business counseling and support to entrepreneurs and existing businesses. The center holds two free seminars entitled "How to Start a Business" and "Business Plan Preparation."
Continuing Education at Joliet Junior College
This department serves northern Livingston County and offers the following services; business counseling, manufacturing assessment, information dissemination, and technology brokering services for area companies, comprehensive employment and training programs for unemployed and underemployed individuals, and more.
weTRaIN
weTRaIN is a network of Illinois Community Colleges that provides training, resources, and support services for your workforce needs.
Online Training through the SBA
Free online trainings on the following topics are provided through SBA: Starting a small business, surviving a down economy, business management, financing and accounting, marketing and advertising, government contracting, business planning, e-commerce, international trade, and federal tax training.
DCEO Employer Training Investment
The Employer Training Investment Program supports the efforts of Illinois workers in upgrading their skill sets. Grants are available for up to 50 percent of the cost of training your company's employees.
Illinois Entrepreneurship Network
DCEO provides a list of development organizations and educational institutions to support entrepreneurs.
Novus
Novus was established in 2004 by entrepreneurs in central Illinois to help entrepreneurs connect with each other. This organization offers panel presentations for entrepreneurs on a variety of different topics.
Central Illinois Business Network International (BNI)
BNI (Business Network International) is a business and professional referral organization whose primary purpose is to exchange qualified business referrals and develop word-of-mouth marketing techniques.
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Additional Resources
Illinois Business Registration Frequently Asked Questions
This website provides step by step instructions on business registration and filing taxes.
IRS: Small Business and Self-Employment Tax Center
The IRS has established a site specifically for small business owners and self-employed individuals. Find help and information on filing your taxes through this website.
Central Illinois Development Partnership
CIDP is a partnership between counties, cities, villages and private companies in Central Illinois with the mission of providing professional development opportunities as well as marketing the central Illinois region and the individual communities as a location for business development.
Illinois Environmental Protection Agency - Office of Small Business
The IEPA Office of Small Business provides resources and assistance to make the regulations on small business less burdensome. Contact this office for environmental questions and concerns regarding your small business.
Sell 2 Illinois
The State purchases more than $10 billion worth of products and services each year. Are you competing for this business? The State of Illinois buys everything from food to trucks to office furniture to consulting services. Since we run social service facilities, office buildings, garages, state parks and more, the State needs virtually everything consumers and businesses need.
Farm Beginnings
Central Illinois Farm Beginnings™ is a successful, farmer-led training and support program designed to help people plan and launch farm businesses that are economically and environmentally sustainable. Visit the website for more information.
Odell Public Library
The Odell Public Library recently received a $4,000 "2009: A Tech Odyssey" grant from ISU. Odell Public Library will make the following available for public use soon: 5 Dell computers, scanner, color printer, video camera, digital camera, laminator, microfilm machine, and several desktop computers. An Open House is scheduled for August 24 after which computer training programs may be available. Call (815) 998-2012 or visit Odell Public Library's website for more information.
Pontiac, IL Chamber of Commerce
Dwight, IL Chamber of Commerce
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