Project Roadmap
project approval & review process
The Community Development Department supports residents, businesses and developers in enhancing and advancing properties throughout Downers Grove. The department includes both the Planning and Code Compliance Divisions, working together to guide projects from concept to completion.
The Planning Division serves as the primary resource for development approvals, providing guidance on processes, requirements and next steps. This includes site plan review, building permits and applications for variances and special uses.
It also oversees key planning frameworks, including the Comprehensive Plan, Downtown Master Plan, and Ogden Avenue Plan, while administering the Village’s Zoning Ordinance and Subdivision Regulations to ensure thoughtful, balanced growth. The staff acts as the liaison to the Plan Commission and the Zoning Board of Appeals.
financing your project
Downers Grove has many financial institutions that can provide financing for your business project. Below you will find several resources, including state and federal, that we encourage you to take advantage of.
Banks
American Chartered Bank
Bank Financial
Chase Bank
Chase Bank
Chase Bank
Citibank
Community Bank of Downers Grove
Community Bank of DuPage
Old Second Bank
PNC Bank
PNC Bank
U.S. Bank
U.S. Bank
State & Federal Resources
illinois department of commerce and economic opportunity: advantage illinois
Advantage Illinois consists of multiple programs to encourage institutional lending to small businesses, as well as the Invest Illinois Venture Fund to leverage private capital in start-ups and high-growth sectors. Advantage Illinois is funded by $78 million in federal funds from the State Small Business Credit Initiative (SSBCI) which is reserved in a State Treasurer’s account solely for this purpose.
illinois finance authority: industrial revenue bonds
Administered through the Illinois Finance Authority, the industrial revenue bond program provides the authority with the ability to issue tax exempt IRBs on behalf of Illinois manufacturers looking for long term financing on the purchase or renovation of fixed assets such as land, building, and equipment. IRBs may finance up to 100 percent of the total costs for qualifying projects of at least $1.5 million. Terms of the bonds may not exceed 10 years. A $1,500 non- refundable fee is required upon submission of application.
the u.s. small business administration loan programs
The 7(a) Loan Program includes financial help for businesses with special requirements. For example, funds are available for loans to businesses that handle exports to foreign countries, businesses that operate in rural areas, and for other very specific purposes.
The Microloan Program provides small, short-term loans to small business concerns and certain types of not-for-profit child-care centers. The SBA makes funds available to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries make loans to eligible borrowers. The maximum loan amount is $50,000, but the average microloan is about $13,000.
illinois business financial services
IBFS is a Certified Development Company (CDC) that works in partnership with the U.S. Small Business Administration (SBA). Since 1981, Illinois Business Financial Services has been developing diversified loan programs for small businesses, utilizing the SBA 504 and other loan programs to create jobs and millions of dollars in project funding.
get in touch
The DGEDC can provide information on our community, including available sites for your business project.
P: 630.729.0380
message from the president & CEO
The DGEDC’s impact is made possible by our Investors and Board of Directors. Their leadership continues to strengthen Downers Grove’s reputation as a premier destination for corporate and division headquarters in the Chicago area.
President & CEO, The DGEDC
