Lake County Partners, the economic development agency for Lake County, works to enhance economic vitality and quality of life in Lake County by creating and retaining quality jobs, stimulating capital investment, pursuing economic diversity and improving the County's business climate.
Lake County Partners transforms economic opportunities into business realities by facilitating public/private collaboration to improve the business climate in the region. Lake County Partners focuses on attracting, retaining and expanding businesses; advocating for infrastructure improvements; and spearheading initiatives that bolster business success. As a result, Lake County maintains and continues to improve its appeal as a great place to live and work.
Small Business Administration (SBA) 504 Loan Program
The Lake County Partners SBA 504 Loan Program provides assistance to businesses purchasing, constructing, or renovating real estate, or for purchase of new equipment. The down payment may be as low as 10%, using a combination of private lender and SBA 504 financing. The 504 rate is a low-interest, fixed rate for the life of the loan.
Lake County Partners is one of the few economic development organizations in the country that the US Small Business Administration (SBA) has designated as a Certified Development Company to help companies access the SBA 504 Loan Program to finance their expansion needs. The 504 Loan Program is an attractive alternative to traditional financing because it offers long term, fixed rate, below market financing and lower equity requirements for businesses. This allows growing companies to conserve their operating capital and use it elsewhere in the business.
Industrial Revenue Bond (IRB) Financing Program
Lake County Partners serves as the processing agent for the Private Activity Bond Clearinghouse for all communities in Lake County. Industrial Revenue Bonds are tax exempt bonds issued to finance the capital expenditures of manufacturers, 501 (c) (3) non-profit corporations, and affordable housing projects. This type of financing can be used for the acquisition of fixed assets such as land, buildings, or equipment and for renovation and new construction.
For more information about business financing and other incentives provided by Lake County Partners, please visit their website, or call Michael Stevens, President & CEO of Lake County Partners, at 847-597-1221, or e-mail him at firstname.lastname@example.org.