McLean County Board's 2

Financial Assistance Programs

Updated as of 1/15/21

Both loan programs are 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 

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