Ready to get started as an approved lender? The Business Loan Guarantee Program currently has $30 million available to support participating lenders that make business loans in lower-income areas. Each lender may receive up to $1 million in total loan guarantees, based on available funding. After an allocation is made, the lender must submit its first application within 30 business days and use all guarantee funds within one year.

Step 1: Become a Participating Lender 

To offer guaranteed loans through this Program, financial institutions must first be approved by the Illinois State Treasurer’s Office. 

Already an approved lender in the Loan Guarantee Program? You can skip Step 1 and go straight to Step 2.

Step 2: Submit a Business Loan Guarantee Application 

Once approved, participating Lenders have 30 days from the date of approval to submit their Business Loan Guarantee Application(s).