On July 1, 2013, Public Act 98-0117 took effect in Illinois creating the Disadvantaged Business Enterprise (hereafter “DBE” as defined by 49 CFR Part 26) Working Capital Revolving Fund Loan Program (hereafter “DBE Loan Program;” authorized by 20 ILCS 2705/2705-610). The DBE Loan Program will provide for assistance to DBEs that are ready, willing, and able to participate in Agency construction contracts with project financing costs through the availability of low-interest lines of credit.
*This program is subject to annual appropriation by the General Assembly
Interested DBE firms will have the opportunity to submit an application to the Bureau of Small Business Enterprises for pre-eligibility determination.
Applications should be sent to:
DBE Loan Selection Committee
Illinois Department of Transportation
2300 South Dirksen Parkway, Room 300
Springfield, IL 62764
Upon award, the DBE firm would submit notice of award to SBE within 5 days and the application would be submitted to a Loan Selection Committee responsible for reviewing their credentials and determining if a loan will be awarded. Once a loan is awarded, an escrow account will be established for the DBE firm receiving the loan. A Fund Control Agent will work directly with DBEs awarded loans to develop a loan repayment plan for each one and will monitor the progress of each loan recipient’s efforts to repay the loan through the Escrow Agent, back to the Working Capital Revolving Fund.
Bureau of Small Business Enterprises
Office of Business and Workforce Diversity
Management Supportive Services Assistance is available to assist DBE firms in ensuring completeness of the application at no-cost, use the contact information below to request assistance with your loan application. Contact information is available below:
Districts 1, 2, & 3
Mr. Theo Joyner, Ralph G. Moore & Associates
401 South LaSalle
Chicago, IL 60605
Districts 4, 5, 6, 7, 8, & 9
Mr. Mark Vaughn, Franklin & Vaughn, LLC
2220 South Route 157, Suite 200 E
Glen Carbon, IL 62034