Illinois Capital Access Program
The Illinois Capital Access Program (CAP) is a loan portfolio insurance program managed by the Illinois Finance Authority (IFA) to encourage financial institutions to make loans up to $1,000,000 to small and new Illinois businesses (500 or fewer employees) that may not qualify for conventional financing. Offered by Illinois Department of Commerce and Economic Opportunity; awards $1.0M.
Key Facts
- Funder
- Illinois Department of Commerce and Economic Opportunity
- Award amount
- $1.0M
- Deadline
- Rolling / not specified
- Geography
- Illinois
- Status
- Open
About This Grant
The Illinois Capital Access Program (CAP) is a loan portfolio insurance program managed by the Illinois Finance Authority (IFA) to encourage financial institutions to make loans up to $1,000,000 to small and new Illinois businesses (500 or fewer employees) that may not qualify for conventional financing. The program works by having the bank, the borrower, and the Department of Commerce and Economic Opportunity (DCEO) contribute a small premium into a pooled reserve to cover potential loan...
Full requirements and application instructions: official listing.
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