- Launched in 2023, the State Small Business Credit Initiative 2.0 (SSBCI) helps socially and economically disadvantaged businesses access lower-interest loans to grow. Funded by the American Rescue Plan Act of 2021, and administered by the U.S. Department of Treasury, SSBCI builds on the original program, with Illinois set to receive up to $354.6 million to support small businesses statewide.
- As part of this effort, the Illinois Climate Bank—designated under the Climate and Equitable Jobs Act (CEJA)—created Climate Bank Finance (CBF) to drive private capital into clean energy projects while fostering economic growth. CBF’s Loan Participation Program lowers interest rates (2% max, or 1% for Socially and Economically Disadvantaged Individuals & Very Small Businesses) and reduces lender risk, helping businesses expand, create jobs, and support Illinois’ clean energy transition.
State Small Business Credit Initiative (SSBCI)
Empowering Small Businesses for a Sustainable Future
Program Overview
Lenders: If you are interested in becoming a Participating Lender, please complete the REQUEST TO BECOME A LENDER form and send back to Maria Colangelo at mcolangelo@il-fa.com. Please be sure to include a completed and signed Form W-9 and IRS 147-C Letter.
Contact your local Lender and see if they are already a participant of the Illinois Finance Authority’s Climate Bank Program. If they are not a participant and are interested in joining, please set up time with IFA, yourself, and your Lender, to discuss the program and what it takes to sign up.