The SBDC is looking for small businesses that will help to power a thriving local economy.


Our Loan Program Manager has funds available to loan to your new or existing business. Not only that, but we are also available to coach you the process of obtaining a commercial loan and help you create a business plan that a banker is going to love.

If you need funding for the purchase of real estate, machinery, equipment, or even to acquire working capital, we may be able to help. Our loan programs are designed to encourage economic growth through capital formation and job creation and retention.

If you’re interested in learning more about business loans, we encourage you to simply meet with our Loan Program Manager to see what’s possible … what have you got to lose?

"It's not about ideas. It's about making ideas happen."

Scott Belsky, Co-founder of Behance

The SBDC can you help you obtain a commercial loan from your bank.

Whether they are referred to us by their banker or they discover us on their own, many small business owners work with one of our consultants prior to approaching their bank about a commercial loan. Oftentimes, we provide them with templates and coaching that allows them to create a business plan and financial projections that the bank will require. We also prepare them for the loan officer interviewer so that they have a better chance of securing the capital they need to start or grow their business.


The SBDC also manages a variety of loan programs designed specifically for local companies.


City of Springfield Revolving Loan Program

  • New and existing for profit businesses located in the City of Springfield are eligible.
  • The SBDC  partners with your lender with the goal of providing up to 90% financing.
  • Job creation and or retention are required.


City of Springfield Micro-loan Program

  • Direct loans of up to $5,000 to for profit micro enterprises (less than five employees) located in the City of Springfield.
  • Typically given to new and start-up businesses with no job creation or retention requirement.


Clark County Revolving Loan Program

  • Direct loans to for-profit manufacturers, retailers or service businesses located in Clark County.
  • New and existing for profit businesses are eligible. SBDC partners with your lender to help provide up to 90% project financing.
  • Job creation and retention apply.


Childcare Micro-enterprise Loan Program

  • Loans to provide assistance to established and new child day care providers.
  • Loans are available to those businesses located in Champaign, Clark, Greene and other surrounding counties and can include permanent operating capital requests.


SBA 504 Loan Program

  • Granted through our affiliate, The Clark County Development Corporation, we provide fixed rate financing for fixed asset funding.
  • Purchase of real estate and equipment are eligible.
  • Equipment loans are available for 10 year financing and real estate loans for 20 years.
  • Job creation and or retention are a requirement of this program.

Wondering if you would be eligible for a commercial loan?

Whether it’s one of our loan programs or a traditional bank loan, your loan officer is going to consider five different factors before he or she makes a decision about whether to issue your business a commercial loan. These include:


Character, or, alternatively, “credit history,” is a crucial factor when deciding whether to issue your business a loan. A bank will first and foremost examine your credit reports to see whether you have a history of paying back your debts responsibly. If your credit score is below 650, you may have a very hard time obtaining a business loan. Many bankers will also consider other character-related attributes beyond a person’s credit score, so the reputation of you and your management team does matter.

The next factor a bank is going to consider is whether you have or are likely to have enough cash flow to allow you to make your loan payment comfortably. They will determine this by looking at 3 years worth of financial projections (especially in the case of a brand new business) as well as your past financial performance and growth trends. If a bank is not very confident in your business plan, or you don’t even have a business plan, you probably won’t get a business loan.
Just like with home mortgages, a commercial lender will expect the business owner to “have some skin in the game” by injecting some of their own money into the deal. Traditionally, the percentage the bank is looking for 20% of the funding to come from the business owner(s), so if your business requires $100,000 for startup or expansion, the bank will expect you to put up $20,000 before it will lend the other $80,000. That said, there are some special loan programs that can reduce your required capital down to as low as 10%.

Because there is always a chance a business will struggle or fail, the bank is going to want to make sure that there is adequate collateral to help secure the loan. If you default, the bank will attempt to sell your real estate, equipment, and other assets to recoup its losses. If you have very little collateral to secure the loan, the bank may not be interested in issuing one to you.

Finally, a banker is going to evaluate the current economic conditions to determine whether there are any downturns that ought to affect their decision. These may be local economic trends or they could be industry-specific trends. If the trends aren’t working in your favor, the deal may turn south.

Document Requirements

Document requirements may vary. For this reason, we suggest you contact your lender to acquire the exact information required.

That being said, some of the most commonly-requested information includes:

  • Purpose(s) of your loan request
  • History of your business and the industry
  • Business and personal tax returns for the last three years and year to date internal financial statements (Existing businesses)
  • Schedule of business debts (existing businesses)
  • Aging of accounts receivable and payable (existing businesses)
  • Projected opening day balance sheet (new businesses)
  • Projected income, expenses and cash flow
  • Building lease or purchase details
  • Amount you plan to invest in the Project Financing
  • Signed personal financial statement
  • Personal resumes of owners and key staff personnel
  • Past three years of business tax returns for the business you want to acquire
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