Rockford Business Lending Program Resumes, City Now Accepting Applications

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ROCKFORD (WREX) – The Rockford Business Loan Program has reopened.

The city will provide funding to business owners affected by COVID-19. Previous recipients are not eligible for this phase, but they are encouraged to distribute the information.

The program will fund a loan of up to $ 15,000, followed by a grant of up to $ 10,000, resulting in total funding of up to $ 25,000 for each microenterprise recipient (businesses with five or fewer employees).

These loans have already benefited many Rockford companies.

“They were very lucky that the funds were there to help them get through this difficult time because, as you know, COVID had an impact on many businesses and therefore many businesses in the area kept their feet.” – Economic Development, Diversity and Procurement Coordinator, Franziska French.

Business loans are issued on a first come, first served basis. This program is for working capital only.

Capital investments are not allowed. For more information on the microenterprise lending program, you can email businessfirst@rockfordil.gov. To apply, go to https://portal.neighborlysoftware.com/rockfordil/participant.

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