URBANA, Ill. (WCIA) — A new microloan fund is already seeing several applicants and piquing interest in those who want to start businesses in the Urbana area.
The Champaign County Economic Development Corporation partnered with the City of Urbana and nonprofit Justine Petersen to create the fund. The program is for business owners who may have trouble getting a loan from a bank. They supply funding to help business with staffing and equipment.
In just 4 days, 20 applicants have expressed interest in guiding their businesses in the right direction. Tristan Brown, Illinois Operation Manager at Justine Petersen, said their mission is taking people’s businesses to the next level.
“Really the main idea is to just promote credit in general and promote entrepreneurship on an individual level and a business level. That’s really the summary of what we do here,” Brown said.
He said some applicants who have previously joined a similar program are now seeking out the new microloan fund in Urbana.
Those interested in the microloan may contact Brown by calling 217-494-0884 or by scheduling an appointment online.