Genz Memorial Investment 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 Memorial Investment Fund was formalized in 2020 to assist individuals who have been turned down for a traditional bank loan. The fund, which totals over $400,000, 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. NWILED intends to fund three awards per year beginning in 2021 that range from $4,000.00 to $8,000 each. 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 grant for a new drone camera and computer workstation, Lola's Deli who used their grant for startup costs, Meat Master Processing Company who used their funds to help renovate a storage building, and Trolley Depot Coffee & Tea Co. who used funds to purchase a new sample coffee roaster.
Genz Application - English language
Genz Application - Spanish language