McLean County Board's 2

Financial Assistance Programs

Updated as of 10/26

Updated 10/26: Both programs are now 0% interest and forgivable loans.

  • See the full press release from 10/21/2020 here. 

  • IMPORTANT: this is NOT a grant program, but these amendments did create the opportunity for qualified applicants to have their loans forgiven, and if not forgiven, issued at 0% interest.

  • Expenses will be forgiven that assist in the adaptation and/or recovery from COVID restrictions:

  • Supplies - receipts of PPE, sanitation, extending outdoor dining

  • Technology - receipts of software to increase online sales

  • Real Estate Improvements - receipts for drive-up or walk-up windows

Forgivable Micro-Bridge Loan Program

  • The Micro-Bridge Loan is a 0% bridge loan up to $10,000 for nonresidential for-profit businesses under 10 employees in McLean County.

  • The McLean County Board has allocated $300,000 for this program. 

  • The loan requires a support letter from a lender.

  • Payments are deferred for 6 months. 

  • The applicant's loan documents will not be public record but rather housed at the EDC. 

  • To learn more, view the list of required documents, and apply visit the Bloomington Normal EDC website 

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Forgivable Recovery Loan Program

  • The Recovery Loan is a 0% gap loan up to $20,000 (20% of total loan) for nonresidential for-profit businesses under 50 employees in McLean County.

  • The McLean County Board has allocated $300,000 for this program. 

  • The loan requires a partnership from a bank to cover the other 80% of the loan. 

  • Payments are deferred for 6 months.

  • The applicant's loan documents will not be public record but rather housed at the EDC. 

  • To learn more, view the list of required documents, and apply visit the Bloomington Normal EDC website 

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Our SBDC is funded in part through a cooperative agreement with the the U.S. Small Business Administration, the Illinois Department of Commerce and Economic Opportunity, Illinois Wesleyan University, the City of Bloomington, and the Town of Normal. 

Small Busness Administration
Illinois Department of Commerce and Economc Opportunity
City of Bloomington, IL
Town of Normal, IL