The Springfield Project

Solving Neighborhood Problems
Through Collaborations

Solving Neighborhood Problems
Through Collaboration

Micro Loan Program

The Springfield Project micro loan program, Springfield, ILTSP launched a Micro Loan Program in 2008 and has made numerous loans to many small businesses since the program's inception.

The Micro Loan Program serves as a lending source to counteract the difficult economic conditions that pose operational and service challenges for small business owners.  Funding is made available to borrowers that do not qualify for traditional financing.

The Program offers loans which are paid back in monthly affordable installments.  In addition, participating businesses receive memberships with the Springfield Black Chamber of Commerce and the Greater Springfield Chamber of Commerce. 

Also, free business counseling and other related services are made available through partnership with the Illinois Small Business Development Center of Lincoln Land Community College.

Micro Loan Program 2013

The Micro Loan Program for 2013 has kicked off with $40,000 to loan to small businesses.  Interested in receiving a Micro Loan to start or expand your business? To begin the application process, contact our office at 217.753.3551.

The Springfield Project Micro Loan Program

Year                               No. of loans           Amount

2008                              10                                           $21,000

2009                              10                                           $19,500

2010                               7                                              $14,000

2011                               10                                             $33,500

2012                               7                                              $27,500

Program total                                $115,500

Read more about the Micro Loan Program

Local lending program gives small businesses a leg up
By  NATALIE MORRIS, GateHouse News Service, Oct 09, 2012
Read the story at SJ-R.com...