About this programme
Advantage Illinois helps small Illinois businesses get financing by reducing the risk a lender takes on, rather than lending to businesses directly. The Illinois Department of Commerce and Economic Opportunity (DCEO) administers it, reauthorized under the federal State Small Business Credit Initiative (SSBCI) with U.S. Treasury funding aimed at growing the state's economy and creating jobs faster.
The program works entirely through lenders that DCEO has approved to participate. It does not accept applications directly from businesses.
How it works
Advantage Illinois offers two risk-mitigation structures: a Loan Guarantee, where the state guarantees a portion of the loan's risk, and Loan Participation, where the state takes on a portion of the loan itself. Both let a lender view a project more favorably by reducing its own exposure.
Potential participation or guarantee amounts run from $10,000 to $2,000,000 per loan, based on job creation or retention, the size of the project or loan, and the level of risk involved.
Who can apply
The business must have fewer than 750 employees and operate in Illinois.
The business must be in good standing with the Illinois Secretary of State, with no outstanding back taxes and no bankruptcies, judgments, or liens in the past five years.
The business must be able to show it currently has difficulty obtaining financing through conventional means.
How to apply
- Approach a DCEO-approved lender with your business plan; the current list of approved lenders is on DCEO's website.
- If you are a lender interested in becoming approved to participate, apply via the smartsheet link or by emailing CEO.SSBCI@illinois.gov.
- Use a Small Business Development Center for free consulting on your business plan if you need help preparing it.
Frequently asked
Do I apply to DCEO directly for Advantage Illinois?
No. You apply through a lender that DCEO has approved to participate in the program, not to the state directly.
How much credit support is available?
From $10,000 to $2,000,000 per loan, depending on job creation or retention, project or loan size, and risk.
What are the two program structures?
A Loan Guarantee, where the state guarantees part of the loan's risk, and Loan Participation, where the state takes on part of the loan directly.
What disqualifies a business?
Having 750 or more employees, not being in good standing with the Secretary of State, owing back taxes, or having a bankruptcy, judgment, or lien in the past five years.
More funding in Illinois
EDGE for Startups
Illinois Department of Commerce and Economic Opportunity (DCEO) · Illinois
Withholding-tax credits for Illinois startups under 10 years old that hire employees, with no minimum investment required for smaller companies.
Illinois Angel Investment Credit Program (Qualified New Business Venture)
Illinois Department of Commerce and Economic Opportunity (DCEO) · Illinois
Gets angel investors a 25-35% state tax credit on money they put into a certified early-stage Illinois company, helping it raise capital.
Illinois EDGE Tax Credit (Economic Development for a Growing Economy)
Illinois Department of Commerce and Economic Opportunity (DCEO) · Illinois
Illinois's primary job-creation tax credit, reinstated and revised by the legislature, scaling reward against new hires, retained jobs, and training spend for up to 10-15 years.
Illinois Enterprise Zone Program
Illinois Department of Commerce and Economic Opportunity (DCEO), locally administered · Illinois
Sales, utility, and construction tax exemptions for businesses investing in one of Illinois's certified economically-distressed enterprise zones.
iVenture Accelerator
Gies College of Business, University of Illinois Urbana-Champaign · Illinois
Non-dilutive funding up to $20,000 for University of Illinois student startups, with no equity taken.
All 6 programmes in Illinois →
Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.