Quick Link by Category
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Local Incentives
American Recovery and Reinvestment Act
General Services
Local Advocacy, Networking and Services
Business Startups
Small Business Resources (>500 Employees)
Nonprofit
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Legal Requirements
Loans, Grants and Matches
Workforce Development & Recruitment
Energy
Historical Preservation
Veterans and Service Members
Tourism |
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Local Incentives
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Business Incentive Program in Marengo
The Marengo Community taxing entities may be willing to offer property tax abatements, sales tax rebates, and building fee waivers if your business is expanding, moving or starting up in Marengo. Your project will need to accomplish two of the following three criteria:
• Make a significant taxable investment in the community
• Create jobs
• Pay livable wages for the new jobs created
If you feel you meet the requirements please contact the Marengo Economic Development Commission.
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Tax Incremental Financing
Currently the City of Marengo has one TIF district and has contracted with a consultant to study the possibility of adding two additional districts on July 27th 2009. Study results are expected in early to mid 2010. Contact the Marengo Economic Development Commission to find out more details.
For More Information Contact:
Dane Checolinski, Coordinator
Marengo Economic Development Commission
116 South State Street
Marengo IL 60152
(815) 568-5105
FAX (815) 568-7130
edc@cityofmarengo.com
Download Literature:
Tax Incremental Financing Information |
American Recovery and Reinvestment Act
ARC Loan Program
The Small Business Administration (SBA) has begun offering loans for a temporary new program called America's Recovery Capital. "ARC" loans of up to $35,000 are designed to provide a "bridge" for viable small businesses with immediate financial hardship--to keep their doors open until they get back on track.
ARC loans are deferred-payment loans of up to $35,000, available to established, viable, for-profit small businesses that need short-term help to make their principal and interest payments on existing and qualifying business debt. ARC loans are 100% guaranteed by the SBA and have no SBA fees associated with them.
ARC loans will be disbursed over a period of up to six months and will provide funds to be used for payments of principal and interest for existing, qualifying small business debt including mortgages, term and revolving lines of credit, capital leases, credit card obligations and notes payable to vendors, suppliers and utilities.
Download Literature:
ARC Loan Program - FAQ
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Put Illinois to Work (PIW) Employment Program
Through Put Illinois to Work, unemployed and underemployed Illinois residents can be placed into subsidized employment positions for up to six months. Under the subsidized employment model, the wages of the participant are provided by state/federal funding, and the employer must provide supervision and training of the participant for the duration of the placement.
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Recovery Zone Facility Bonds
These bonds have a 45% refund of federal taxes and work similar to Industrial Revenue Bonds. The County has been authorized the ability to issue $27,507,000 of these bonds through the McHenry County Finance and Audit Committee until December 31st 2010. The bonds can be used for property and/or equipment used in production or service delivery. If your project exceeds $1,000,000 we recommend you look into these bonds as source of funding. The McHenry County Economic Development Corporation will be happy to answer any questions.
Download Literature:
Recovery Zone Bonds Pamphlet
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Small Business Administration (SBA) Loans
Many SBA loans requirements and fees have been reduced or eliminated as a result of the American Recovery and Reinvestment Act. Speak with one of our local financial institutions to find out more about these changes and whether or not these loans can help your business. |
General Services
McHenry County Economic Development Corporation (MCEDC)
The MCEDC is the official economic development entity in McHenry County. They will be able to assist you with many of your business needs.
Download Literature:
McHenry County Business Resource Guide
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Local Advocacy, Networking and Services
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Marengo-Union Chamber of Commerce
The Chamber will give you a leg up on networking, local information, and advertising. The Chamber also has a bulk mailing permit available to its members and can certify your products country of origin if you need to ship to other nations. If you are doing business in the Marengo area this organization is here for you.
Download Literature:
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Marengo-Union Chamber of Commerce Brochure
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Women in Business Brochure
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Marengo Main Street Inc.
Marengo Main Street, Inc. is a member of the nonprofit Illinois Main Street program. Our goal is to stimulate community pride, preserve historic buildings, and keep businesses in business. Having a unique, local place to shop will benefit not only the business and building owners, but also the entire community.
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Business Startups
The following are guides distributed by the Illinois Department of Commerce and Economic Opportunity for how to start your own business.
Download Literature: Starting a Business Brochure English / Spanish
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Illinois Small Business Development Center - McHenry Community College
The Shah Center has whole classes and a program to get ideas off the ground. If you are serious about starting up your business we recommend you contact the Shah Center to arrange a meeting with their professionals for free counseling and a class schedule.. |
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Small Business Resources (>500 Employees)
Illinois Small Business Development Center - McHenry Community College
The McHenry Community College has a Small Business Development Center which has three programs available to Small Business Owners which are:
• A Program for newer business or for people with an entrepreneurial spirit who want to turn their dreams into reality. The program consists of five classes in the core areas of finance, accounting, marketing, organizational behavior, and product development. In addition, any entrepreneur can receive free confidential counseling, feasibilities studies, and research.
• Contracted training can be performed for business to train employees for half the actual cost. Training can be performed at your business or at the Shaw Center in McHenry.
• Open enrollment is available to employees of your business through the college for education in specific areas.
To find out more call the Illinois Small Business Development Center at the Shaw Center at (815) 455-6098.
Download Literature:
Workshop/Seminar Program - Center for Corporate Training Brochure
The Illinois Small Business Development Center Brochure
Contract Training - Customized Contract Training Brochure
Shifting Gears - Corporate Continuing & Adult Education Brochure
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Service Core of Retired Executives (SCORE)
SCORE is a non-for-profit group of volunteers who educate entrepreneurs nation wide. SCORE has offices in Rockford, Lisle and Chicago.
For more information contact the Rockford office at:
Northern Illinois SCORE
c/o EIGERlab
605 Fulton Avenue
Rockford, IL 61103
(815) 962-0122
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Small Business Administration (SBA)
The SBA website has information on planning, starting, and managing a small business. It even has information on how to leave your business with tips on selling your business, transferring ownership, and liquidating assets. Their website also includes much, much, more. |
Nonprofit
Center for NGO Leadership & Development (NGOLD)
Northern Illinois University is beginning a new program offer degrees in nonprofit management. The center will also assist existing nonprofits with workshops and seminars. This center is in its infancy. Follow the link to view the latest information on the upcoming center.
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Grand Victoria Foundation
Grants are available through this Elgin based foundation for McHenry County 501(c)(3) public charities. The Foundation is particularly interested in projects in the areas of education, economic development and the environment.
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United Way of Greater McHenry County Volunteer Center
On the Volunteer Center web site your nonprofit can post volunteer opportunities and wish lists for your operations. The volunteer center is apart of the United Way of Greater McHenry County.
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Rural Assistance Center
This web site has a searchable listing of funding opportunities by governments, foundations, and companies. You may be supervised what resources are out available for organizations like yours.
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Helpful Articles
What Business Execs Don't Know but Should Know About Nonprofits by Les Silverman & Lynn Taliento
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Legal Requirements
Illinois Business Portal
This Illinois Business Portal is Illinois’s official sight for Illinois businesses. Resources include information on licensing, regulations, human resource laws, reporting requirements, occupational safety and more… If you have a law related question this is the sight we recommend you start your search.
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Illinois Small Business Guide
This Small Business Guide is the Federal government's official sight to guide businesses through the legal aspects of owning a business. The site covers topic such as business licenses, taxes, workmen's compensation, employer identification number (EIN) and more. It will help you through the steps of starting a business and serve you well while operating your business.
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IRS Tax Information for Businesses
This website contains information federal tax information on starting, operating, and closing a business. It also contains information on employer ID numbers, how to appeal a tax dispute, information for self-employed individuals to corporations and more.
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Loans, Grants and Matches
SEARCH for Loans, Grants and Financing
Through www.business.gov, a Federal government's website, any profit or not-for-profit can search for available programs which may be able to assist you. Simply input what your business plan is by answering a dozen or so easy questions and a search engine will give you the programs you qualify for and a link to learn more. This is a great tool for any business.
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Chicago Metropolitan Agency for Planning (CMAP)
CMAP coordinates planning and economic development for the counties in and around Chicago. This organization puts out an extensive packet of financial assistance programs for economic and community development. See the link below to view it.
Helpful LInk:
CMAP Financial Assistance Programs for Economic and Community Development (2009)
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Illinois Guide to Loan Incentive and Grant Programs
This matrix will help you find a loan or grant program available to you as an Illinois Business Owner. This document was compiled by the Illinois Entrepreneurship Network, the Business Information Center and the Illinois Department of Commerce and Economic Opportunity.
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Marengo Revolving Loan Fund
The fund is tied to job creation. For every Full Time Equivalent (FTE) job created or retained your business may be able to borrow $15,000 from the City of Marengo.
Loan amounts vary from $30,000 to $150,000. These loans can be used in conjunction with traditional loans, be used for many things such as working capital, equipment purchases and property improvements.
For More Information Contact:
Deborah Nier, City Administrator
City of Marengo
132 East Prairie Street
Marengo, IL 60152
(815) 568-7112
www.cityofmarengo.com
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McHenry County Loan Fund
• Loan is up to 45% primary financing
• Loan term is up to 7 year loans
• Solid Waste Disposal (Ethanol)
• Will do secondary financing as well (especially if primary is behind a local bank)
• Underwriting decision is done by a banker’s committee not by government employees
For More Information Contact:
Department of Administration
County of McHenry
2200 North Seminary Avenue
Woodstock, IL 60098
(815) 334-4214
www.co.mchenry.il.us
Download Literature:
McHenry County Revolving Loan Fund Application
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McHenry County Micro Loan Fund
The McHenry County Micro Loan Fund is a loan of $5,000 to $25,000 directly from McHenry County. To be eligible any business within the county must have a well developed Business Plan, the ability to secure the loan with collateral, and provide a personal guarantee. The loan can be used for working capital, expansions, purchase of machinery, leasehold improvements and more. The approval process takes 30 days and the funds will be dispersed on a first come, first served basis.
For More Information Contact:
Department of Administration
County of McHenry
2200 North Seminary Avenue
Woodstock, IL 60098
(815) 334-4214
www.co.mchenry.il.us
Download Literature:
McHenry County Micro Loan Fund Application
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Upper Illinois River Valley Development Authority (UIRVDA)
Tax free bonds available for new construction or expansion in Marengo through URVDA
which are available to following categories of employers:
• Industrial (Manufacturing)
• Not-for-Profit (YCMA, Hospital)
• Solid Waste Disposal (Ethanol)
• Transportation (Intermodal)
• Government Agencies
For More Information Contact:
Andrew Hamilton, Executive Director,
UIRVDA
633 LaSalle Street, Suite 401
Ottawa, IL 61530
(866) 325-7525
Fax: (866) 325-7569
Download Literature:
Upper Illinois River Valley Development Authority Brochure
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Illinois Finance Authority (IFA)
The IFA’s mission is to foster economic development to public and private institutions that create and retain jobs and improve the quality of life in Illinois by providing access to capital. The IFA helps by providing bonds with tax benefits & direct loans.
Download Literature:
Illinois Finance Authority Brochure
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Illinois Department of Commerce & Economic Opportunity (DCEO)
The state offers programs to augment conventional sources of financing to help with relocations and expansions. These programs encourage investment in distressed areas, small business start up, minority ownership, high tech seed money, tourism, and many other opportunities to strengthen and diversify the Illinois workforce.
Download Literature:
DCEO Programs and Services Guide
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Illinois State Treasurer
Through the Illinois Treasurer office a business can receive low interest loans to businesses large and small. The State Treasurer even has separate loan programs for child care and agriculture.
Download Literature:
Low-interest loans for Illinois Business Owners Brochure
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The United States Department of Agriculture (USDA)
Do not think the USDA is only about cows and corn. Marengo is classified as a rural community and falls under the USDA’s responsibility. Enterprise grants and loans are available for business located in Marengo, even for manufactures.
One of these programs in the Business and Industry Guaranteed Loan (B&I). This program can guarantee a loans up to $40 million for up to 30 years if the circumstances of your business is right. This program can help you secure a risky loan your financial institution would not be willing to make if the loan will help you provide employment, improve the economic or environmental climate of the area, or promote the conservation of water or energy resources.
For More Information Contact:
USDA Rural Development
1689 N. 31st Street, Suite 1
Ottawa, IL 61530
(815) 433-0551 Ext. 4
Fax: (815) 433-4287
Download Literature:
Comparison Chart of USDA Programs for Businesses
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Trade Adjustment Assistance for Firms (TAAF)
This federal program offers a 50/50 match for projects to improve a businesses global competitive stance. It is available to primarily mid-sized manufacturers which have lost 5% of their profits or 5%of their workforce due to foreign competition.
Download Literature:
Trade
Adjustment Assistance For Firms Brochure
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Workforce Development & Recruitment
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Illinois Small Business Job Creation Tax Credit
The Illinois Small Business Job Creation Tax Credit is a one year credit for $2,500 (that can be carried forward) on withholding tax for employers with 50 or fewer total employees who hire new, full-time Illinois employees during the 12-month period beginning July 1, 2010. The credit is available to qualifying employers for each new, full-time Illinois job created and sustained for at least one year. The program is on a first come, first served basis. |
McHenry County Workforce Network
This network consisting of the Illinois Department of Employment Security (IDES), McHenry County Workforce Investment Board (WIB), and other organizations have offices in a single building. If your business needs new employees or incumbent worker training, including grants for incumbent worker training, this network is here for you. Additional services from the network includes updated statistics on the McHenry County's workforce such as wages, unemployment and the type of skills McHenry County workers possess and if your business is planing to down-size the network may be to help your employees find new jobs.
For more information contact:
McHenry County Workforce Network
500 Russel Court
Woodstock, IL 60098
(815) 338-7100
Download Literature:
Get the Competitive Edge Brochure
Business Advocate Brochure
Winning Strategies: Cost Effective Staffing Solutions IDES Brochure
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Illinois Small Business Drug Free Workplace Program
1 in 4 employees in Illinois have as substance abuse problem. Workers who have a substance abuse problem are four times more likely to be involved in on-the-job accidents and six times more likely to file a workers compensation claim. Absenteeism, and increased health care costs for employees who have substance abuse problems are estimated to cost a company $1000 per employee per year. Did I get your attention? Check out this program to help your business perhaps more importantly your employees.
Call the Illinois Small Business Drug-Free Workplace Program at 1-800-252-8951.
Download Literature:
Illinois Small Business Drug Free Workplace Program Brochure
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Helpful Internet-based Resources
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Illinois Skills Match
A no-cost internet-based job matching system which will allow business to enter the skills and compensation information to look for candidates. Employers may also post open positions on the site for free. |
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Occupational Informational Network (O*NET)
A no-cost internet-based job skill set site which allows employers or job seekers to find which skills by occupation can be applied in different jobs. This site is useful for human capital planning and employee selection processes.
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Illinois One Source
One Source is hosted by the Illinois Department of Employment Security and can provide
you with labor market reports, tools for career decision making, and historical trends for employment.
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Energy
ComEd Energy Efficiency Program
The energy savings program is available to business customers ComEd to include commercial, industrial, and small business facilities.
The program can help to:
• Cover the cost of upgrading equipment to save on electricity
• Assessing electricity saving opportunities
• Identifying contractors for equipment installment.
For more information:
Call: (888) 806-2273
E-mail: ComEdSmartIdeas@KEMA.com
Download literature:
Smart Ideas for your Business Overview
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Rural Energy for American Program (REAP)
REAP is a multi-teared US Department of Agriculture program which includes different grants and guaranteed loans for businesses which would like to generate their own power or increase their energy efficiency. The offerings in this program include the: Energy Audit (EA) and Renewable Energy Development Assistance (REDA) Grants, Renewable Energy Systems (RES) and Energy Efficiency Improvement (EEI) Grants, Feasibility Grant Program, and Guaranteed Loan Program.
For More Information Contact:
USDA Rural Development
1689 N. 31st Street, Suite 1
Ottawa, IL 61530
(815) 433-0551 Ext. 4
Fax: (815) 433-4287 |
Historical Preservation
Marengo Historical Preservation Commission
Sometimes things are best kept the way they are. For information on how preserving a building can bring tax incentives and other benefits contact the Marengo Historical Preservation Commission.
Download literature:
Marengo Historic Preservation Commission Information Resource
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Veterans and Service Members
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Patriot Express Loan
This loan of up to $500,000 is available to veterans, active-duty service members participating in the military's Transition Assistance Program, Reservists and National Guard members, current spouses of of the above, and the widowed spouse of a service member or veteran who died during service, or of a service connected disability. These loans can be used for start-ups, expansions, working capital, business-occupied real-estate purchases and other business related purposes. These loans typically have interest rates of 2.25% to 4.75%.
Download literature:
Patriot Express Loan Brochure
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Military Reserve Economic Injury Disaster Loans (MREIDL)
The purpose of the Military Reservist Economic Injury Disaster Loan program (MREIDL) is to provide funds to eligible small businesses to meet its ordinary and necessary operating expenses that it could have met, but is unable to meet, because an essential employee was "called-up" to active duty in their role as a military reservist. These loans are intended only to provide the amount of working capital needed by a small business to pay its necessary obligations as they mature until operations return to normal after the essential employee is released from active military duty. The purpose of these loans is not to cover lost income or lost profits. These loans can be for a maximum of $2 million for a duration of 30 years. Interest rate fixed at 4%.
Download literature:
MREIDL FAQ Sheet
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Tourism
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Tourism Marketing Partnership Program (MPP)
Provides matching grants to counties, municipalities and local not-for-profit organizations to promote tourism attractions and events in their areas, thus increasing hotel/motel occupancy and travel into and throughout the State of Illinois.
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Tourism Private Sector Program (TPS)
Provides a dollar-for-dollar match to assist private-sector efforts to attract and host major national or international events in Illinois, such as trade shows, conventions, major sports events or other premier activities that increase hotel/motel stays and provide economic impact for the State of Illinois.
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Tourism Attraction Program (TAP)
Provides grants to counties, municipalities, not-for-profit and for-profit organizations to assist in the development and improvement of tourist attractions in Illinois, thus increasing hotel/motel stays and providing economic impact for the State of Illinois.
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