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updated: 7/12/2013 3:39 PM

Quinn says program created nearly 2,000 jobs

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Associated Press

Gov. Pat Quinn is lauding a federally funded small-business initiative that has created nearly 2,000 jobs in less than two years.

The Democrat celebrated Advantage Illinois on Thursday at AllCell Technologies on Chicago's Southwest Side. The company has tripled its workforce since the program began in October 2011.

Quinn says the program helps small operations get access to bank loans and lines of credit in order to grow.

Since it began the state has committed $45 million in federal money to leverage more than $336 million in private investment. The 131 programs funded have created just under 2,000 jobs.

AllCell manufactures lithium-ion battery technologies for transportation and renewable energy use. A private bank and state officials helped the company get a $250,000 loan.

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