Business Advancement Program

Application is open December 1, 2025 – January 31, 2026

The City of Rockford’s Business Advancement Program offers 5-year forgivable loans at a 1:1 match to for-profit businesses with a commercial or industrial-zoned brick and mortar location for the advancement of business operations.

The program will provide up to $25,000 in gap funding to business growth projects to encourage business development and advancement with the creation of at least one new full-time equivalent job. Census tracts identified on program map the have met program qualifications and businesses located within those areas are eligible to apply.

Program Eligibility: 

Eligible Applicants Include:

  • For-profit businesses legally established and operating within the City of Rockford’s municipal boundaries.
  • Business is located in a property zoned Commercial or Industrial
  • Business was established by November 1, 2025 documented through registration by the State or County
  • Business is registered with the Official U.S. Government System for Award Management (SAM.gov), and will have an active status at the time of assistance.

Ineligible Applicants Include:

  • Home-based businesses,
  • Business established after November 1, 2025,
  • Businesses without a current active lease or ownership of property.

Program Summary - English

Program Summary - Arabic

Program Summary - Spanish

Project Eligibility: 

Eligible Projects Include:

  • Purchase of equipment (so long that installation or use of that equipment does not require construction)
  • Operating expenses associated with business expansion (inventory, employee salaries, rent, operating expenses and advertising/marketing expenses).

Funding:

  • Matching funds are required for this Program. Applicants are required to provide a 1:1 match of funds. The total project cost can be higher than $50,000, but the City’s portion will be a maximum of $25,000. This program awards additional points for higher private investment.
  • Source of the matching funds will need to be documented at the time of application.
  • Applications will be reviewed on a competitive basis using the program criteria and scoring chart. The City may deviate in order to provide balance in funding throughout the City.
  • The Small Business Development Center (SBDC) is available for assistance with creating financial projections as required for the program. Please visit their website at https://www.rockfordsbdc.org/contact-us or send an email (c.behling@rockvalleycollege.edu) to schedule an appointment.

Technical Assistance:

Please direct all program questions either by email to EconomicDevelopment@RockfordIL.gov or call 779-348-7162.

In-personal technical assistance will be available at Rockford City Hall on December 16, 2025 from 10am-12pm.