Business Invest: Sub-Contractor Accelerator Loan Engine Program

The Invest in Illinois Business Invest Sub-Contractor Accelerator Loan Engine Program (SCALE UP) is a loan program from the Illinois State Treasurer’s Office.

SCALE UP partners with qualified financial institutions to provide vital economic support to small, diverse businesses that would not otherwise qualify, to facilitate or expand access to capital for diverse (owned by qualified women, minority persons, military veterans, and persons with disabilities) small business construction companies in the state of Illinois. The program supports construction companies with contracts to government agencies or large real estate developers by providing capital access to small, diverse construction contractor businesses in Illinois.

  • State funds will be deposited with qualified financial institutions for a 1-year term.
  • Deposited funds enable affordable loans for small, diverse construction companies with contracts for government, commercial, or residential projects. These funds could be used to provide bridge funding, pay fixed debts, payroll, accounts payable, and other bills. Deposits may be requested by financial institutions for up to $5 million per institution.
  • Eligible small diverse businesses must:
    • (1) have less than $1 million in liquid assets or $10 million average annual receipts (per SBA standards);
    • (2) be headquartered in the State of Illinois or agree to use the funds in Illinois;
    • (3) be a diverse construction contractor business with 51 percent or more of the stock or equity of the business owned by minority persons, women, military veterans, qualified service-disabled veterans, or persons with disabilities;
    • (4) have contracts to work on government, commercial, or residential construction projects; and
    • (5) comply with all applicable employment laws.
  • Financial institutions will be required to provide metric reports to the Treasurer’s Office on the use of program funds, including the number and types of loans made to small, diverse businesses.

Download the SCALE UP Program flyer.

How to Apply

Step 1: Become an Approved Program Depository
To participate in the Business Invest – SCALE UP Program, financial institutions must be, or apply to become, an approved program depository with the Treasurer’s Office. For more information and request forms to become an approved depository, please visit:

Step 2: Review Eligibility and Submit Application
Approved depositories (see Step 1) seeking to determine their eligibility and apply for funds under the Business Invest – SCALE UP Program must review the terms and conditions and submit the following application with their funds request:

Step 3: Submit a Letter of Agreement- Contact: Banking-TimeDeposit@illinoistreasurer.gov

Step 4: Borrower Certification Forms
Once the depository institution is approved to participate in the Business Invest – SCALE UP Program and is allocated a commitment of funds (see Step 2), the financial institution must obtain the Certification Form below from each borrower and maintain it with their borrower loan files/documentation.

Daily Rates

View the applicable impact investment deposit rates for the Business Invest – SCALE UP Program.

Contact Us

For questions about the Treasurer’s Office investment programs (Illinois Ag Invest, Illinois Business Invest, and Illinois Community Invest), email: investinillinois@illinoistreasurer.gov or call 217-558-6217.