Illinois Administrative Code
Title 14 - COMMERCE
Part 640 - RURAL DIVERSIFICATION ACT PROGRAM
Subpart A - RURAL DIVERSIFICATION LOAN PROGRAM
Section 640.40 - Eligible Applicants
Universal Citation: 14 IL Admin Code ยง 640.40
Current through Register Vol. 48, No. 38, September 20, 2024
Any Rural Business or Agribusiness operating in Illinois may make application for financial assistance under the Rural Diversification Loan program. Personal service businesses are not eligible to receive funding.
a) Agribusiness - Any sole proprietorship, limited partnership, co-partnership, joint venture, corporation, or cooperative which operates or will operate a facility located within the State of Illinois that is related to the:
1) Processing of agricultural commodities
or
2) The manufacturing, production
or construction of agricultural buildings, structures, equipment implements or
supplies, or any other facilities or processes used in agricultural production
(Section 2(i) of the Illinois Farm Development Act (Ill. Rev. Stat. 1989, ch.
5, par. 1202)).
b) Rural Business - Any cooperative, proprietorship, partnership, corporation, or other entity:
1) Engaged in manufacturing, mining,
agriculture, wholesale, transportation, tourism, or utilities or in research
and development or services to these basic industrial sectors and;
2) Is located or will be located in an
incorporated area of 20,000 population or less, but not in contiguous
incorporated areas (cities, towns or villages) with a combined population
greater than 20,000 or in an unincorporated area, of any county with a
population of less than 350,000.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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