Loan Programs

RLDC Staff will help find you financing that is appropriate for your project—from start to finish.

RLDC offers two types of loan programs to help establish and grow your business—a micro loan program for smaller projects and a guaranteed bond program for larger projects ranging in size from $250,000 to $10 million or more.  We are experts in packaging, processing, closing and servicing SBA 504 loans.

Micro Loans

RLDC manages multiple loan programs totaling nearly $4 million that provide flexible financing for for-profit small businesses located in Winnebago and Boone Counties.  With typical loan sizes ranging from $10,000 to $100,000, RLDC controlled funds can be used for working capital, equipment purchases and the purchase and/or renovation of real estate.

RLDC is a proud partner with the Illinois Department of Commerce and Economic Opportunity (“DCEO”) in DCEO’s Loan Participation Program.  As a partner to DCEO, RLDC is able to leverage its program funding and assist more businesses.  Historically, RLDC has been one of the more active lenders in the state of Illinois in DCEO’s program.

SBA 504 Guaranteed Bond Program

RLDC is a licensed Certified Development Company in the U.S. Small Business Administration’s 504 loan program.  SBA 504 offers leveraged, long term fixed rate loans to eligible small businesses throughout the State of Illinois at attractive interest rates not generally available from conventional lenders.  SBA 504 loans are restricted to real estate acquisitions and improvements and to equipment purchases for equipment with a useful life of ten years or more. 

Download Loan Application

VetLoan Advantage Program

To show its appreciation for the sacrifices our honorably discharged veterans have made in defending our country and the principles we hold dear and share, Rockford Local Development Corporation will pay the Bank Subordination Fee charged to any eligible veteran-owned business receiving an SBA 504 loan from the Rockford Local Development Corporation. Bank Subordination Fees vary based on project size and structure but can range from $500 to as much as $50,000 depending upon the loan size of the participating bank. 

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