Genz Fund
Genz Small Business Development Fund
Entrepreneurs and businesses based in Carroll and Jo Daviess counties in Illinois have a source of financing thanks to the generosity of the late John “Jack” Genz of Galena. Administered by Illinois Bank & Trust, the Genz Small Business Development Fund was formalized in 2020 to assist individuals who have been turned down for a traditional bank loan. The fund, which totals over $450,000, is intended to serve as gap financing, to aid with pilot projects, or fill in gaps not filled by equity and traditional capital.
Eligible applicants include retailers, small manufacturers, wholesalers, those in the hospitality industry, along with farmers and food processors. Awardees can use the money for capital purchases, to purchase an existing business, or for startup and pilot projects. The fund does have requirements.
Past awardees include getVRtours who used their award for a new drone camera and computer workstation, Lola's Deli who used their award for startup costs, Meat Master Processing Company who used their award to help renovate a storage building, Trolley Depot Coffee & Tea Co. who used their award to purchase a new sample coffee roaster, 1826 Creative Company who used their award for a new camera and lighting equipment, and Dry Creek Beekeeping who used their funds to help cover startup costs. The seventh and most recent award went to Lola's Deli, their second) who used funds to renovate a storage room into a lounge space.
Since first awarded in 2020 a total of $53,302 has been dispersed through the fund.
Application
Genz Application - English language
Genz Application - Spanish language