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 award went to Lola's Deli, (their second) who used funds to renovate a storage room into a lounge space, and the most recent award went to Main Street Laundry who will use their award to purchase a new water softener system and to upgrade their payment system to include card readers.
Since first awarded in 2020 a total of $58,302 has been dispersed through the fund.
Application
Genz Application - English language
Genz Application - Spanish language
NWILED awards Genz Fund to Main Street Laundry
NWILED announced the presentation of the organization's eighth Genz Fund Award to Main Street Laundry in Stockton, Illinois. The check for $5,000 was issued to Owner Colton Broshous the afternoon of March 6, 2025.
NWILED awards Genz Fund to Lola's Deli
NWILED announced the presentation of the organization's seventh Genz Fund Award to Lola’s Deli in Elizabeth, Illinois. The check for $10,000 was issued to Owners Susan Hanley and Carrie Clark the evening of July 31, 2024. It’s the fund’s largest award to date.
NWILED awards Genz Fund to Dry Creek Beekeeping
On June 26, 2024, NWILED announced the presentation of the organization's Genz Small Business Development Fund to Dry Creek Beekeeping. A check for $7,500 was issued to Head Beekeeper and Owner Chase Dittmar.
NWILED awards Genz Fund to 1826 Creative Company.
On January 31, 2024, NWILED announced the presentation of the organization's Genz Small Business Development Fund to the 1826 Creative Company. A check for $9,625 was issued to co-owners Michelle and Brendan Sullivan from the fund, NWILED’s largest award yet.
Genz Fund Awarded - Fourth Payout
NWILED announced the fourth payout from the Genz Memorial Investment Fund to Joy and Cory Heller of Trolley Depot Coffee & Tea Co. totaling $7,727.00 on July 12, 2023.
Genz Fund Awarded - Third Payout
NWILED announced the third payout from the Genz Memorial Investment Fund to Peter and Maria Holy of Meat Master Processing Company totaling $4,000.00 on November 3, 2022,
Genz Fund Awarded - Second Payout
NWILED announced the second payout from the Genz Memorial Investment Fund to Carrie Clark and Susan Hanley of Lola’s Deli totaling $8,000.00 on Saturday, January 22, 2022,
Genz Fund Awarded - First Payout
NWILED announces the first payout from the Genz Memorial Investment Fund to John Hudetz of getVRtours.com.