Women- and minority-owned businesses that do state construction projects can now apply for low-interest loans through a new state program.
Gov. Pat Quinn signed a bill Tuesday that creates the Disadvantaged Business Revolving Loan Program. It allows the Illinois Department of Transportation to make the loans to businesses that have contracts with the state.
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The law takes effect immediately.
The state will put in $3 million to get it started. Officials expect the program to become self-funded eventually.
Quinn says women- and minority-owned businesses don't always have the resources to bid on state projects. For more, visit www.ilga.gov.