Maximizing Benefits from RCIF Loan Program

The Illinois Small Business Development Center at Rock Valley College provides a vast array of assistance to small businesses and aspiring entrepreneurs.Based on client needs, local business trends, and individual business requirements, the Illinois Small Business Development Center at Rock Valley College customizes its services to meet the evolving needs of the small businesses in the local communities.

Illinois SBDC at Rock Valley College

Join us at this informative workshop on May 1st to learn about RCIF's loan program and much more!

303 N Main St 5th floor

The Illinois Small Business Development Center (SBDC) at Rock Valley College is excited to be partnering with the Rockford Community Investment Fund (RCIF) to bring local small business owners and entrepreneurs this informative workshop! In partnering together, the Illinois SBDC at Rock Valley College and RCIF demonstrate their commitment to offering comprehensive guidance and support to small businesses and entrepreneurs in our community.RCIF provides financing to small businesses who rehabilitate homes in the City of Rockford, especially in its low and moderate income neighborhoods. While providing a platform for learning and networking, this workshop aims to educate current and prospective borrowers about the intricacies of RCIF's loan program, ensuring that RCIF's borrowers are well informed about the responsibilities and opportunities associated with its loan program, in addition to providing current and prospective borrowers with guidance on finding and assessing properties, financial management strategies, etc. This workshop will feature industry experts, including a local realtor from Dickerson &amp; Nieman Realtors and banker from Northwest Bank.Date: May 1, 2024Time: 5:00-7:00 PMLocation: MPOWR Coworking + Collaboration Center (303 North Main Street, 5th Floor, Rockford, IL 61101)Admission: No Cost/Registration RequiredReasonable accommodations for persons with disabilities will be made if requested. Please contact Megan Wright at (815) 921-4076, m.wright@rockvalleycollege.edu, or the Woodward Technology Center (WTC), 3301 North Mulford Road, Suite 2400, Rockford, IL 61114.

Agenda

Brief overview of the Program and its success stories

Introduction & Overview of RCIF Loan Program

Key eligibility criteria and application tips; Realtor's guidance on finding and assessing properties

Eligibility, Application Process, & Property Evaluation

Overview of loan terms and regulatory compliance; Financial management strategies for loan recipients

Loan Terms, Compliance, & Financial Management

Discussion on refinancing and other exit options

Exit Strategies: Refinancing & Beyond

Q&A Session

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