Illinois Administrative Code
Title 14 - COMMERCE
Part 610 - PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAMS
Subpart A - BUSINESS DEVELOPMENT PUBLIC INFRASTRUCTURE LOAN AND GRANT PROGRAM
Section 610.25 - Application Documentation
Current through Register Vol. 48, No. 12, March 22, 2024
The application must include documentation for the business associated with the proposed project as follows:
a) History of the Company - a brief history of the business and past employment.
b) Market Information - information on the company's products or services and identification of existing and potential major customers and competitors.
c) Projected Employment Information - the total number of jobs to be created or retained, including type of jobs, wages, and hiring schedule for job creation/retention.
d) Historic Financial Statement - historic financial statements for the past three years and interim statements dated no more than ninety days prior to application including:
e) Projected Financial Statements - projected three-year profit and loss statements and balance sheets and a one year monthly cash flow projection.
f) Company Management - listing of those individuals who are responsible for the management of the company, their positions and responsibilities, and resumes of key senior individuals at the company location.
g) Ownership - the company shall provide a detailed statement of ownership which shall include the percentage of ownership of all owners of the company. Such statements shall clearly identify any ownership interest which amounts to 20% or more, any ownership interest of individuals who have a position of control in the company, and/or any interest which is guaranteeing any financial or contractual activities of the company. For all such entities which meet any conditions of this subsection, a financial statement shall be provided.
h) The Department shall waive the requirements of subsections (a), (b), (d), (e), (f) and (g) when: