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State Small Business Credit Initiative (SSBCI) — Climate Bank Finance Loan Participation Program
Illinois — state program1% or 2% flat per annum interest rate; minimum participation $25K, maximum participation up to $2MM; maximum tenor of 7 years
Launched in 2023, the Climate Bank Finance (CBF) Loan Participation Program under SSBCI 2.0 helps socially and economically disadvantaged small businesses access lower-interest loans for clean energy and environmental projects in Illinois. The program lowers interest rates and reduces lender risk to drive private capital into clean energy projects while fostering economic growth and job creation.
Program details
- Type
- loan
- Amount
- 1% or 2% flat per annum interest rate; minimum participation $25K, maximum participation up to $2MM; maximum tenor of 7 years
- Status
- open
- Administrator
- Illinois Climate Bank / Illinois Finance Authority (IFA), administered in partnership with U.S. Department of Treasury
Source: Illinois — state program. Confirm current terms with the administering agency before applying.