The City of Rockford’s Business Growth Program offers forgivable loans to for-profit businesses for advancement of business operations.
Donor Name: City of Rockford
State: Illinois
City: Rockford
Type of Grant: Grant
Deadline: 06/30/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
The City of Rockford’s Business Growth Program (Program) offers up to $25,000 in gap funding to business growth projects. The Program is to encourage business development and advancement with job creation for low-to-moderate income individuals. Business must be located in an eligible census tract to apply.
Eligible Projects
Eligible Projects Include:
- Purchase of equipment.
- Operating expenses associated with business expansion (inventory, employee salaries, rent, operating expenses and advertising/marketing expenses).
Eligibility Criteria
- Eligible Applicants Include:
- For-profit businesses legally established and operating within the City of Rockford’s municipal boundaries.
- Business is located in a property zoned Commercial or Industrial
- Business was established by May 1, 2024 documented through registration by the State or County.
- Business is registered with the Official U.S. Government System for Award Management (SAM.gov), and will have an Active status at the time of assistance.
- Ineligible Applicants Include:
- Home-based businesses.
- Businesses established after May 1, 2024.
- Businesses that primarily engage in speculative activities that develop profits from fluctuations in price rather than through normal course of trade.
- Non-profits.
For more information, visit City of Rockford.
