Helping businesses grow and expand

NEWSLETTER u Fall 2020 u

Business & Industry United For A Better Community

WHAT’S INSIDE:

10TH YEAR Healthy Driven Fraidycat Races

NOW OPEN Check out some new businesses around Oswego.

OSWEGO IS BUSY GROWING HELPING BUSINESSES GROW AND EXPAND Kendall County’s low interest loan program helps businesses grow and expand

If the COVID-19 pandemic has derailed your plans to expand your business this year, there might be another option available to help finance your project.

The Kendall County Revolving Loan Fund Program offersalow interest rate loan program. These loans can be used to assist small businesses with creating or retaining jobs.

Loans are available for up to $15,000 per job created or retained. The total amount loaned to businesses can be up to 49% of a project’s cost. Qualifying businesses must demonstrate appropriate collateral to be used for the loan.

“The program gives businesses the capital they need, and the interest rates are extremely lower than what you’d get from a loan at a bank,” says Matt Prochaska, member of the Kendall County Board and the Kendall County Economic Development.

The county received the money to launch this loan fund program back in the 1980s as a state grant. Prochaska says they’ve used the money ever since

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to offer these low interest loans and help new or existing businesses start or expand their businesses by creating new jobs or retaining existing ones. Through the years, several businesses have taken advantage of the program, including a bar in Yorkville that used the money to getaproject off the ground. Any business in Kendall County can apply for a loan by filling out an application on the county website. If pre-approved, the next step is for businesses to complete and submit an application for revolving fund financial assistance to the Kendall County Office of Administrative Services. “We’ve seen several businesses utilize these loans to start up their businesses and become very successful,” says Prochaska. The program is open to any business in Kendall County. So far most loans have been issued to businesses located in Yorkville, Montgomery and unincorporated Kendall County. Several members of the Oswego Chamber of Commerce also have received loans through the program, Prochaska notes. “It’s a great program to look into if you’re trying to grow your business,” Prochaska says. To get started, visit www.co.kendall. il.us/departments/economicdevelopment/business-assistance and complete the pre-application. For more information about the program, email kendalledc@ co.kendall.il.us.

A huge thank you to ALL the First Responders/ First Liners out there who have been working non stop since this all started.

TABLE OF CONTENTS

Helping businesses grow and expand .............................................. 1 Chamber CEO Letter............................................................................. 4 #OswegoStrong .................................................................................... 4 10th Anniversary of the Healthy Driven Fraidycat Races............ 5 Oswego Village President ................................................................... 6 Oswego is busy growing .....................................................................7 Ribbon Cuttings ..................................................................................... 8 2020 Golf Outing................................................................................. 10 New Members....................................................................................... 11 Meet Our Board .................................................................................... 11 Becoming a Member is

EASY and Affordable! Check us out online at www.OswegoChamber.org Call, e-mail, or stop on by! OswegoArea ChamberofCommerce 73W.Van Buren St.•Oswego, IL 60543

Phone: (630) 554-3505 • Fax: (630) 554-0050 Email: info@oswegochamber.org