Business Invest

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Overview

Businesses in underserved communities often struggle with a lack of access to affordable loan opportunities and financial capital. In many instances, businesses would expand their operations, make business improvements, and hire more workers with increased access to low-cost loans.

 

Business Invest is a business-focused impact investment loan program. Through Business Invest, the Treasurer’s Office partners with approved financial institutions to provide business loans -- either lower rate loans, or loans to a business or non-profit that would not otherwise qualify -- to facilitate capital to underserved communities. This provides an opportunity for the Treasurer’s Office to stimulate business growth and economic activity while earning a competitive return for the State.

 

For more information about the Business Invest - CUP program, click here

 

For more information about the Illinois Small Business COVID-19 Relief Program, click here

 

Real Growth, Big Impact

The Office of the Illinois Treasurer (Treasurer) strives for transparency, efficiency and preservation of public trust. Our Invest in Illinois programs are designed to drive economic growth and offer a safe and sound investment opportunity. The Treasurer has made a strategic commitment to collecting foundational data to inform and guide our efforts in support of the people of Illinois. The dashboards below give a snapshot of the data we are collecting.

 

The Invest in Illinois Program offered by the Illinois State Treasurer has served as an integral funding avenue to assist Bank & Trust Company in creating economic growth in our communities.

 

The Illinois Treasurer staff’s assistance, along with their online system, makes the process of obtaining state funds seamless.

 

We, at Bank & Trust Company, appreciate the courteous, patient, top-notch service provided by their friendly staff.

 

We have recently applied and received funds from their new COVID – 19 program which allows an individual Financial Institutions in Illinois up to $25 million in funding.

Bank & Trust Company –Bruce Vignos, CFO

 

 

We’re pleased Illinois Treasurer Frerichs’ COVID-19 Deposit Program helped People’s Bank and Trust, Pana, finance our new Illinois manufacturing facility.

Brad S, Company Executive

 

2020 Key Performance Indicators

A majority of the funds provided under the COVID-19 Relief Program were used to support payroll expenses (53%), followed by fixed rate loans (26%) and bridge funding (13%).

 

COVID-19 Revised - Use of Funds

The Treasurer’s Small Business COVID-19 Relief Program provided much-needed capital to nearly 2,200 small businesses and consumers in Illinois, including the food service and hospitality industry, retail trade, construction, transportation, agriculture, health care and consumer lending.

 

COVID-19 Revised - Type of Business