On June 28th, the Polish National Alliance Headquarters held the Economic Forum on College Savings and Business Loan Programs promoted by the State Treasurer’s Office. The event presented an opportunity to learn about current financial issues, network with other business professionals and allow them to be introduced to programs offered by the Treasurer.

One of the two presented plans was Child Care Program providing low interest loans for Illinois child care providers. Daniel R. Mumpher, the Manager of College Savings Programs from the Treasurer’s Office stated that “the plan helps parents to save money for the future children’s education. Accumulating as little as $25 per month facilitates your kids to make a brighter step into the future. Over years, parents might collect the amount equals up to tens of thousands of dollars.”

The main objective of the second featured project - Employ Illinois is to backs low interest loans to Illinois businesses that create jobs. In order to lower the interest rate on a business loan for five years, the Office of the State Treasurer places up to $10 million in a local financial institution. The Program Director, Michael Smith said that “the plan can be used either to open or expand companies and cover real estate, construction, equipment and working capital cost.”

For more information visit: http://www.treasurer.il.gov