VetLoan Advantage Program

To show its appreciation for the sacrifices our honorably discharged veterans have made in defending our country and the principles we hold dear and share, Rockford Local Development Corporation will pay the Bank Subordination Fee charged to any eligible veteran-owned business receiving an SBA 504 loan from the Rockford Local Development Corporation. Bank Subordination Fees vary based on project size and structure but can range from $500 to as much as $50,000 depending upon the loan size of the participating bank. To be eligible, the business must:

1. Be majority-owned (> 50% of stock shares outstanding) by an honorably discharged veteran of the U.S. armed forces including the U.S. Army National Guard and U.S. Coast Guard;

2. Be approved for an SBA 504 loan from the Rockford Local Development Corporation