The City of Rockford’s Business Growth Program offers forgivable loans to for-profit businesses for advancement of business operations.
Donor Name: City of Rockford
State: Illinois
City: Rockford
Type of Grant: Grant
Deadline: 06/30/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
The City of Rockford’s Business Growth Program (Program) offers up to $25,000 in gap funding to business growth projects. The Program is to encourage business development and advancement with job creation for low-to-moderate income individuals. Business must be located in an eligible census tract to apply.
Eligible Projects 
Eligible Projects Include:

Purchase of equipment.
Operating expenses associated with business expansion (inventory, employee salaries, rent, operating expenses and advertising/marketing expenses).

Eligibility Criteria 

Eligible Applicants Include:

For-profit businesses legally established and operating within the City of Rockford’s municipal boundaries.
Business is located in a property zoned Commercial or Industrial
Business was established by May 1, 2024 documented through registration by the State or County.
Business is registered with the Official U.S. Government System for Award Management (SAM.gov), and will have an Active status at the time of assistance.

Ineligible Applicants Include:

Home-based businesses.
Businesses established after May 1, 2024.
Businesses that primarily engage in speculative activities that develop profits from fluctuations in price rather than through normal course of trade.
Non-profits.

For more information, visit City of Rockford.