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					Purpose                                            Other Opportunities
The Champaign County Community                     The Champaign County Community
Development Corporation (CDC) is a multi-          Development Corporation (CDC) loan fund
bank community development corporation             is one of four programs administered by
that promotes small business start-up and          the Champaign County Regional Planning
expansion and generates employment                 Commission. If CDC financing does not work
opportunities for lower-income residents of
Champaign County.
                                                   for you, we invite you to contact our Economic
                                                   Development Specialist for more information
                                                                                                    Champaign County
The CDC provides debt and equity financing to
                                                   on our other loan programs.
qualifying small businesses. Its underwriting      CSBG Loan Program
criteria maintains a balanced investment           • For projects within Champaign County
portfolio with respect to return, risk, minority   • Funds up to 49% of project cost

opportunities, job creation, and local economic    • Loans up to $150,000
                                                   CDAP Loan Program
The CDC finances, promotes and                     • For projects within Champaign County with
encourages commercialization, adoption, or            some restrictions                              A loan program for businesses
implementation of advanced technologies,           • Funds up to 49% of project cost
                                                                                                          in Champaign County
processes, and products. CDC investments           • Minimum loan: $15,000
include both debt and equity financing. Funds      • Maximum loan: $750,000
may be used for working capital, machinery
and equipment or real estate.                      IRP Loan Program
                                                   • For projects in Champaign, Douglas, Ford,
The Corporation was organized by the                  Iroquois, Piatt, and Vermilion Counties
Champaign County Regional Planning                 • Applicants can be businesses or
Commission on behalf of the Champaign                 municipalities with fewer than 25,000
County Board. Creation of the CDC was funded          population
in part by a grant from the Illinois Department    • 25% non-IRP match requirement
of Commerce and Economic Opportunity.              • Minimum loan: $15,000
                                                   • Maximum loan: $250,000

                                                                                                           Contact: Kathy Larson
                                                                                                      Economic Development Specialist
                                                                                                        1776 East Washington Street
                                                                                                             Urbana, IL 61802
                                                                                                          Phone: (217) 328-3313
                                                                                                            Fax: (217) 328-2426
Terms                                             Application Procedure                            CDC Member Institutions
•   Minimum loan amount: $10,000.                 Interested applicants should work jointly        Each CDC project financing must include at
•   Maximum loan amount: Depends on               with a private sector lender and RPC staff.      least 1:1 participation by one of the following
    available balance                             This effort will ensure that the business        member institutions:
•   CDC funds up to 50% of project cost           client receives the optimal financing package
•   Applicant must invest at least 10% equity     utilizing current economic development                         Bank Champaign
•   Minimum 1:1 financing match with a CDC        resources.                                                   2101 South Neil Street
    member bank                                                                                                Champaign, IL 61820
•   1% loan origination fee                       The written project request should include the                  (217) 351-2870
•   Interest rate: Prime +/- 2%                   following:
•   Loan terms:                                   • Business plan including company history                          Busey Bank
     • Working capital: up to 5 years                  and structure.                                           201 West Main Street
     • Machinery & equipment: 5-7 years           • Three years historical financial statements                   Urbana, IL 61801
     • Real estate: 10 years                           and tax returns.                                            (217) 365-4500
•   Senior position preferred on identifiable     • Three years sales and cash flow
    assets                                             projections.                                             Central Illinois Bank
•   One full-time job must be created for every   • Schedule of collateral.                                   2913 West Kirby Avenue
    $10,000 to $25,000 of CDC funds invested      • Explanation of the financing need.                         Champaign, IL 61821
                                                  • Terms and conditions of conventional                          (217) 355-0900
                                                       bank loan and any other financing
                                                       arrangements.                                                   Chase
                                                  • Sources and uses of funds statement.                     201 West University Avenue
Equity Investments                                • Job creation commitment.                                    Champaign, IL 61820
Equity investments are considered when            • Any other pertinent information.                              (217) 353-4260
prudent asset-based lending is unavailable.       • Each applicant will be charged a one
The higher risk/return investments are                 percent origination fee.                                  First Midwest Bank
reserved for high technology start-ups and                                                                         2004 Fox Drive
software development enterprises. The             Approval Process                                              Champaign, IL 61821
minimum CDC equity financing is $25,000 and                                                                        (217) 378-7640
                                                  Approval of requests will be based on two
will require a 25% preferred rate of return       broad criteria:
based on the issuance of stock warrants and/or                                                                   Midland States Bank
                                                  • The external need for the project including                1608 Broadmoor Drive
percentage of sales.                                 feasibility, local economic impact, and                   Champaign, IL 61820
                                                  • The risk associated with the project                          (217) 398-3800
                                                     including the current financial position,
                                                     rate of return, available collateral,                        National City/PNC
                                                     soundness of projections and community                      30 East Main Street
                                                     development impact.                                        Champaign, IL 61820
                                                                                                                   (217) 351-0500

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