The Village of Schaumburg is committed to fostering economic growth and supporting job creation, particularly for low- and moderate-income individuals. The Small Business Loan Program is a fantastic opportunity for local entrepreneurs to access financial assistance and turn their vision into reality.
What Does the Program Offer?Eligible applicants can secure 80% matched, forgivable loans of up to $15,000 to fund various business projects, such as:
How to Apply
If you’re interested in applying for the Small Business Loan Program, reach out to Matt Frank at (847) 923-3853 for more information. Alternatively, you can apply online.
For detailed guidelines and a list of required documents, download the Small Business Loan Program Guide available on the Village of Schaumburg’s website.
Why This Program Matters
This initiative is more than just a loan; it’s an investment in Schaumburg’s small businesses and its residents. By providing financial resources and support, the program creates pathways for economic empowerment and community development.
Don’t miss the opportunity to take your business to the next level while making a meaningful impact in Schaumburg. Start your application today! https://schaumburgil.seamlessdocs.com/f/21umxpveqsgu
What Does the Program Offer?Eligible applicants can secure 80% matched, forgivable loans of up to $15,000 to fund various business projects, such as:
- Staff Salaries & Operating Capital
Get support to retain or hire employees and cover essential operating expenses. - Tenant Space/Property
Use the loan to lease or acquire space vital for your business operations. - Inventory & Supplies
Purchase inventory, raw materials, and supplies needed to meet demand or expand offerings. - Furniture, Fixtures, & Equipment
Invest in tools, equipment, and furniture that enhance your business operations (installation costs may also be included). - Marketing & Advertising
Allocate up to 50% of the loan toward developing marketing materials, running campaigns, or enhancing your website.
- Employ at least 0.5 full-time equivalent (FTE) staff (20 payroll hours per week).
- Ensure that 51% or more of the total payroll comprises low- to moderate-income positions.
How to Apply
If you’re interested in applying for the Small Business Loan Program, reach out to Matt Frank at (847) 923-3853 for more information. Alternatively, you can apply online.
For detailed guidelines and a list of required documents, download the Small Business Loan Program Guide available on the Village of Schaumburg’s website.
Why This Program Matters
This initiative is more than just a loan; it’s an investment in Schaumburg’s small businesses and its residents. By providing financial resources and support, the program creates pathways for economic empowerment and community development.
Don’t miss the opportunity to take your business to the next level while making a meaningful impact in Schaumburg. Start your application today! https://schaumburgil.seamlessdocs.com/f/21umxpveqsgu
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