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Advantage Illinois Loan Guarantee Program.

Advantage Illinois may provide a state guarantee that reduces risk for an enrolled lender financing an eligible Illinois business.

Offered byIllinois Department of Commerce and Economic Opportunityverified 2026-07-10

Overview

What it does.

A business begins with a participating lender. The lender underwrites the request and may seek a state guarantee when the project meets program standards.

Best for: Businesses with a sound repayment plan that need added credit support to secure lender approval.

Eligibility

Who and what may qualify.

Eligible applicants

  • Illinois businesses with fewer than 750 employees that face a conventional financing challenge and meet state good-standing requirements

Eligible uses

  • Eligible business financing approved by an enrolled lender

Application

How to start.

  1. Prepare financial statements, projections, and a business plan.
  2. Contact an approved Advantage Illinois lender.
  3. Ask the lender to evaluate the loan for the guarantee program.

Timing: The program is accessed through enrolled lenders on a rolling basis.

Planning notes

Limits to account for.

  • The state guarantee is not a direct loan or grant.
  • Lender participation and credit approval are required.

Other financing must be disclosed and approved by the lender.

Evidence

Official sources.

  • Advantage IllinoisIllinois Department of Commerce and Economic Opportunity · accessed 2026-07-10