The NICDC Small Business Local Loan Program provides $5,000-$50,000 loans for businesses in Winnebago County that can be used for working capital and to help make ends meet during the COVID-19 pandemic.

The fund is expected to operate as a financial bridge while small businesses await funding from the Small Business Administration Disaster Relief Fund. In order to apply for the NICDC Small Business Local Loan Program, businesses must first submit their application to the U.S. Small Business Administration (SBA) for a low-interest, long-term disaster loan. Since the local Bridge Loan program was created to help small businesses while they’re waiting to receive the SBA funding, this is an important first step. Click here for information on how to apply for the SBA Disaster Assistance Low Interest Loan Program.

To be eligible for the NICDC Small Business Local Loan Program, businesses must meet the following requirements:

·         Be a for-profit business

·         Have less than 100 employees

·         Be experiencing a business interruption or cash flow issue due to COVID-19.

·         Have a credit score of at least 660

·         Must have full year of operations or other financial information

The NICDC Small Business Local Loan Program will have an interest rate of 6%.  Awards will be given on a first-come, first-served basis, with the goal of providing as many loans to businesses in need.

To apply, provide the following documentation via e-mail to  or

  • Personal Financial Statement for each Principal
  • Complete copies of Personal Tax Returns for most recent one (1) year for each Principal
  • Complete copies of Corporate Tax Returns for past three (3) years
  • Resume for each Principal (if available – otherwise we will interview client)
  • Copy of Interim Financial Statements (current within 60 days), including aging schedules for accounts receivable and payable
  • List names of affiliated companies (through ownership or management control); complete financial information for affiliates must be provided
  • How much funding do you request?   How was that amount determined?
  • Debt schedule
  • Copy of recent credit report (otherwise we will need to pull one)
  • Evidence that application for SBA Disaster Relief Loan has been completed or is in process
  • Evidence of deferment on existing debt payments and rent

Further questions can be directed to the Rockford Local Development Corporation:

Rockford Local Development Corporation

120 W. State Street, Suite 306

Rockford, IL 61101

815-987-8675 (phone)

815-968-4157 (fax)

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