IBFS is a Certified Development Company (CDC) that works in partnership with the U.S. Small Business Administration (SBA).
IBFS provides direct and indirect financial assistance to businesses in the State of Illinois. If your small business is in need of new equipment, updating a facility or building a new one, IBFS is here to help. IBFS works in partnership with the SBA to package and submit 504 and Community Express Loan applications.
Our SBA loan programs provide us the flexibility to assist companies at different levels of funding.
Illinois Business Financial Services has helped many small businesses realize their potential.
Read more about the clients that IBFS has worked with, from hospitality to retail and heath care.
IBFS has access to local resources in both Peoria and Chicago. Visit our Contact and Resources page for helpful links with additional information to help you with your small business.
IBFS is a Certified Development Company (CDC) that works in partnership with the U.S. Small Business Administration (SBA). Since 1981. Illinois Business Financial Services has been developing diversified loan programs for small businesses, utilizing a combination of Community Development Assistance Programs and the SBA's 504 and Community Express Loan Programs to create jobs and millions of dollars in project funding.
What is a CDC?
A CDC, or Certified Development Company, is a nonprofit corporation set up to contribute to the economic development of its community. CDCs work with the SBA and private sector lenders to provide financing to small businesses. There are about 270 CDCs nationwide. Each CDC covers a specific geographic area.
Who does IBFS partner with?
IBFS is Better Business Bureau Accredited
IBFS has been accredited by the BBB since 1998, and maintains an A+ rating
What are the key benefits of an SBA 504 Loan?
How does the 504 work, and how can IBFS help?
As an SBA-backed lender, IBFS - in partnership with America's Banks - works with qualified businesses to develop, package and process business growth projects. By integrating client, bank resource and SBA financing, IBFS helps businesses expand their operations.
Typical SBA 504 Financing Breakdown:
10-20% from business owner
50-40% from bank
40-30% from the SBA (via IBFS)
Basic Requirements for 504 Eligibility:
What kinds of businesses have used the 504 Loan Program?
Since 1981, IBFS has worked with small businesses in all major industries: healthcare, manufacturing, service, retail, hospitality (hotel/restaurant), and construction. Cick here to read about some of our success stories.
This SBA program is designed to help small office and home office owners grow their operations to meet new needs.
Community Express Loan facts:
China Palace served customers in its Washington Street, East Peoria location from 1990 until October of 2001, winning the Journal Star Reader’s Choice Award in 1999 and 2000.
Partnering with IBFS and Fondulac Banking Center, Joe, Pete, and Sam Mach were able to develop new construction and open a new operation, China Village Buffett, in November 2001. With a new address at 206 West Camp Street, the restaurant offers buffet-style Asian and American Cuisine in a family oriented setting. The restaurant expansion benefits the Central Illinois Community with wider choices for customers as well as increased tax revenue, economic development, and employment for the area.
In early 2001, the Mach Brothers decided that their restaurant, China Palace, had outgrown its original facility.
The new China Village Buffet
After four years of increasing revenues, this marketing firm hit a plateau - DLA had run out of office space to add needed equipment and staff. They turned to IBFS to help them with financing their expansion.
IBFS partnered with Heritage Bank to assist DLA owners Marc and Michelle Lefebvre in accessing the funds they needed to take their business to the next level.
In the summer of 2008, DLA purchased an unfinished office condo in North Peoria and created a new layout for its professional creative work environment. Construction was completed in March 2009, and DLA was ready for new business.
www.icc.edu/ptac - Procurement Technical Assistance Center (PTAC)
The mission of the Illinois Central College Procurement Technical Assistance Center is to provide government contracting services to Central Illinois manufacturers and other small, minority, and women-owned businesses for the purpose of assisting them in selling their products and services to buyers in federal, state, and local government markets.
www.score.org SCORE - Free Business Counseling Services SCORE provides business planning and operations assistance to current and prospective small business owners. They are centrally located at the Peoria Area Chamber of Commerce.
www.nadco.org - The National Association of Development Companies (NADCO)
is a trade association of Certified Development Companies (CDCs) - companies that have been certified by the Small Business Administration (SBA) to provide funding for small businesses under the SBA 504 Program. This site contains general information for small businesses who would like to learn more about the SBA 504 loan program as well as information on the 504 industry for NADCO's Certified Development Company members and our affiliate members.
www.edc.centralillinois.org - The Economic Development Council for the Peoria Area (EDC)
Welcome to your access point for business opportunities in Peoria, Tazewell, and Woodford Counties. The EDC serves the businesses and communities of Central Illinois by strengthening local business structure and assisting companies in relocating or expanding to the tri-county area.
www.peoriachamber.org - The Peoria Area Chamber of Commerce (PACC)
The chamber offers a wide variety of programs and services to their 1300+ member companies and organizations. From networking opportunities to leadership development to legislative representation, we have something here that will help you and your business grow.
www.sba.gov - The SBA (Small Business Administration) enables its lending partners to provide financing to small businesses when funding is otherwise unavailable on reasonable terms by guaranteeing major portions of loans made to small businesses. By providing this guaranty, the SBA is able to help tens of thousands of small businesses every year get financing they would not otherwise obtain.
www.ci.peoria.il.us - City of Peoria - Economic Development Department works with the Peoria City Council, City leaders and the development and business community to enable Peoria to remain a desirable place to build, work, and live in.
www. business.illiniois.gov - State of Illinois Business Portal, assists individuals with or at any stage of the business cycle.
Illinois Business Financial Services is an SBA 504 Certified Development lender dedicated to contributing to the economic development of small business.
Our Lending Products:
SBA 504 Loan Program
SBA Community Express Loan Program
3.52%
3.80%
3.88%
4.11%
4.36%
4.19%
4.14%
4.38%
August
July
June
May
April
March
February
January
Peoria Office: 124 SW Adams St., Suite 190 Peoria, IL 61602 Phone: 309.495.5980 - Fax: 309.674.0279
Chicago (Branch Office) - 1016 W. Jackson Blvd. Chicago, IL 60607 - Phone: 312.288.8605
2010 Illinois Business Financial Services
