openILRolling
Illinois Capital Access Program
Illinois Department of Commerce and Economic OpportunityDescription
The Illinois Capital Access Program (CAP) is a loan portfolio insurance program managed by the Illinois Finance Authority (IFA) to encourage financial institutions to make loans up to $1,000,000 to small and new Illinois businesses (500 or fewer employees) that may not qualify for conventional financing. The program works by having the bank, the borrower, and the Department of Commerce and Economic Opportunity (DCEO) contribute a small premium into a pooled reserve to cover potential loan defaults.
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Grant Details
Funding Range
Up to $1,000,000
Deadline
Rolling (No fixed deadline)
Geographic Scope
IL
Status
open
External Links
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