Illinois Administrative Code
Title 14 - COMMERCE
Part 590 - ILLINOIS LARGE BUSINESS DEVELOPMENT PROGRAM
Subpart A - LOANS FOR LARGE BUSINESS DEVELOPMENT
Section 590.60 - Allowable Leverage
Current through Register Vol. 48, No. 12, March 22, 2024
In addition to the forms of allowable leverage defined in Section 10-4(a) of the Act, allowable leverage will include:
a) under-utilized land and/or buildings which are a part of the project;
b) machinery and equipment brought into the state from another state; and
c) use of retained earnings, proceeds of a public offering or other cash equity.
d) Funds expended by the business prior to the date of a loan or grant award; existing in-state equipment, land, buildings, furnishings, inventory (already owned and being utilized); lines of credit; post-project costs, (such as operational expenses); and debt refinancing will not be considered as leverage.