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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. This calculator does not calculate the Annual Percentage Rate or Average Prime Offer Rates. BLP does not guarantee any of the information obtained by this calculator.

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Village of Union Grove

village of union grove funds

The Village of Union Grove Trustees recently approved attractive loan and grant resources to support its local business community as well as attract new development to targeted areas of the Village. There are several programs available.

village of union grove funds

Union Grove SMALL BUSINESS RELIEF Program

The purpose of this program is to assist Union Grove businesses negatively impacted by COVID-19 and support business retention until the economy stabilizes.

 

This program is now available with 0% interest, three-month deferral, and up to $5,000 for businesses in the Village of Union Grove. The structure was intentionally created to provide an expedited application and disbursement process.

 

Eligibility

  • For profit business
  • Located in the Village of Union Grove
  • At least one year in business

The expedited application and disbursement process will help support businesses affected by COVID-19 with immediate cash needs until the economy stabilizes.

parameters

  • Up to $5,000
  • Working capital term loans
  • Other uses as deemed appropriate, i.e. FF&E, leasehold improvements, professional fees, etc.
  • Not required to document ‘use of funds’ following loan disbursement
  • Three month principal deferral
  • Seven year amortization period following deferral period
  • 0% interest rate for up to one year
DOWNLOAD APPLICATION
CONTACT BLP FOR MORE INFORMATION

Union Grove MATCHING GRANTS

Matching grants are available to businesses making investments in the community, i.e. buildings and equipment, that result in at least one new job being created. Once approved and completed, the grant would reimburse the business 50% of the cost but no more than $5,000.

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NEW APPLICATION COMING SOON

Eligibility

  • Located in the Village of Union Grove
  • Commercial space
  • Making investments
  • Real estate and equipment
  • Creating a minimum of one job

union grove revolving loan fund (rlf)

$100,000 +

For larger expansion projects, the Revolving Loan Fund (RLF) program is available to support the financing needs of local companies. This RLF program can partner with the business’ bank to provide 90% financing for the company’s capital investment in expansion and development projects. With low interest rates, only 10% equity and flexible terms, the program was built to be flexible and business-friendly.

eligible uses

  • Land and Building Acquisition
  • Machinery, Equipment, Furniture and Fixtures
  • Construction and/or Renovation
  • Business Acquisition
  • Working Capital
  • Training Costs
  • For More Eligible Uses, Contact BLP

Less than $100,000

For business loans of $100,000 or less, the Union Grove RLF loan can be the sole lender on the project.  This opportunity affords the business with the full benefits of the RLF program’s reduced down payment and low interest rate.  These small RLF loans may focus more on working capital and leasehold improvements.

eligible uses

  • Leasehold improvements
  • Renovations where a first mortgage holder may already exist
  • Exterior improvements
  • Furniture, fixtures and equipment
  • Small working capital term loans
CONTACT BLP FOR MORE INFORMATION

Union Grove Façade Grant

The Union Grove Façade
Improvement Grant Program’s goal is to improve the downtown area by Investing in storefronts.

  • Make the community more welcoming to customers and residents
  • Reduces costs of exterior building improvements
  • Provides 50% of the total eligible facade improvement costs up to $5,000 per building

Application Process

The Union Grove Community Development Authority (CDA) reviews applications on an ongoing basis. Awards are made on a first-come-first-award basis. Applications must be submitted prior to improvements being made. Upon receipt, you will be contacted to confirm your project meets program guidelines and guide you through the application process.
APPLICATION FORM

Eligibile Uses

Improvements to the public street-facing facade and signage of existing commercial buildings within TID #4. Qualifying uses include:
  • Painting, repainting and cleaning exterior building surfaces
  • New signage and awnings
  • Tuckpointing and masonry repair
  • Repair, replacement, and restoration of entrances, doors, display windows, or windows
  • Permanent exterior lighting
  • Architectural assistance