Section 640.40  Eligible Applicants

Any Rural Business or Agribusiness operating in Illinois may make application for financial assistance under the Rural Diversification Loan program. Personal service businesses are not eligible to receive funding.

a)         Agribusiness – Any sole proprietorship, limited partnership, co-partnership, joint venture, corporation, or cooperative which operates or will operate a facility located within the State of Illinois that is related to the:

1)         Processing of agricultural commodities or

2)         The manufacturing, production or construction of agricultural buildings, structures, equipment implements or supplies, or any other facilities or processes used in agricultural production (Section 2(i) of the Illinois Farm Development Act (Ill. Rev. Stat. 1989, ch. 5, par. 1202)).

b)         Rural Business – Any cooperative, proprietorship, partnership, corporation, or other entity:

1)         Engaged in manufacturing, mining, agriculture, wholesale, transportation, tourism, or utilities or in research and development or services to these basic industrial sectors and;

2)         Is located or will be located in an incorporated area of 20,000 population or less, but not in contiguous incorporated areas (cities, towns or villages) with a combined population greater than 20,000 or in an unincorporated area, of any county with a population of less than 350,000.