According to a report prepared by the Democratic staff of the House Small Business Committee, CDBG has generated $207,029,155 in revenue for Illinois small businesses in FY 2004.  Small businesses in Illinois would be negatively impacted if the Republican Congress agrees to the President’s budgetary blueprint to eliminate CDBG.

The impact of President Bush’s FY’06 budget on Illinois small businesses:   
 

• Rural Business Enterprise Grants (RBEG) (slated for elimination) brought in $1,149,713 in FY04 to Illinois. 

• Community Development Block Grant (CDBG) (slated for elimination) brought in $207,029,155 in FY04 to Illinois small businesses. 

• Community Development Financial Institutions Program (CDFI) (slated for elimination) brought in $1,140,000 in FY04 to Illinois. 

• Microloan (slated for elimination) brought in $ $225,624 through 20 loans to Illinois businesses in FY04. 

• In FY03, $78,000,000 was invested into Illinois small businesses through the SBIC Participating Securities Program (slated for elimination).

• The BusinessLINC program (slated for elimination) brought in $180,000 to Illinois small businesses in FY 2002.

• 1 FY04 Technology Opportunities Program (TOP) award received in Illinois for: $286,360 

• 7(a) Loan Program (received no funding) brought in $343,613,000 through 2,066 loans to Illinois businesses in FY04.

• Illinois currently has 14 active ATP awards (slated for elimination) which have received $45,704,386 in active awards.

• Illinois was given $420,000 for their Women’s Business Centers (slated for a cut) in FY 2004.

• Illinois was given $3.4 million for their Small Business Development Centers (slated for a cut) in FY 2004. 

• Community Technology Centers (CTC) (slated for elimination) brought in $195,239 total through 1 grant in FY04 to Illinois.

• Bank Enterprise Award (BEA) program (slated for elimination) brought in 6 awards totaling $3,097,526 in FY04 to Illinois businesses.

• Migrant and Seasonal Farmworker Program (slated for elimination) initiatives brought in $1,366,190 in FY04 to Illinois.

• In FY04, the Environmental Quality Incentives Program (EQIP) (slated for a cut) provided Illinois businesses with $16.7 million in financial and technical assistance to conserve farmland.

• Section 108 Loan Guarantee Program (slated for elimination) brought 16 loan guarantees for $3,400,000 in FY 2003 to Illinois.

• Rural Community Development Initiative (RCDI) (slated for elimination) brought 1 grant in FY04 for $400,000 to Illinois.

• There is 1 Rural Empowerment Zones and Enterprise Communities (slated for elimination) in Illinois.