Northwestern Illinois Community Development Corporation
The Northwestern Illinois Community Development Corporation is a for-profit corporation that provides loans to for-profit, small businesses in the area.
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The Northwestern Illinois Community Development Corporation (CDC) is a for-profit corporation in the State of Illinois whose purpose is to provide loans to for-profit, small businesses in the region. Money to loan comes from a pool provided by local participating banks.
The focus of the CDC is on small to medium size firms that require capital for modernization, physical rehabilitation of their structures or cash flow to make them more economically viable. Loans promote job retention and provide a vehicle for gap financing when participating lenders are unable to meet the financing needs of the small businesses.
- Financing available for local industrial, commercial or service-related businesses that create or retain jobs
- Secured through a combination of collateral and personal guarantees
- Experienced lenders
- Personalized, dedicated service
- Financing can cover a number of purposes, including:
- Leasehold improvements
- Machinery equipment
- Working capital
- And more!