Freeport, Illinois — There should be millions of dollars available to prospective downtown business owners and developers in the next few months, as the city of Freeport locked in a $1.05 million dollar bond on Monday.
The money will be available for downtown economic growth through loans of up to $100,000 dollars, with micro loans of $5k to $10k also being available, according to the city. The bond, which will be paid for by downtown TIF dollars, was matched by local banks in what should total around $3 Million available to help grow downtown.[srizonfbvidsingle id=1798465553569018]
The city says the money should be available over the next 2-3 months.