Financial Assistance Programs
About our programs
Through our successful partnerships with local financial institutions and the Village of Oak Park, OPDC offers several types of assistance. Using grants and loans, we have arranged financing to convert department stores to office centers, restore and expand a movie theater, open restaurants and give new life to dozens of retail stores.
Loan Programs:
- Commercial Loan Program:
- Described in Crain’s Chicago Business as the granddaddy of suburban community lending, the program was created in 1980 to encourage adaptive reuse of existing buildings.
- Applicants may qualify for privately-funded below market rate loans to acquire and/or rehab commercial properties in Oak Park.
- OPDC works closely with you and one of our participating lenders to help with your specific needs.
- Micro Loan Program:
- Offers Prime rate loans to area small and start-up businesses to finance fixed assets, inventory and working capital.
- Funding for repair or property rehab may be considered.
- Loan funds may not be used by not-for-profits, home-based businesses or for acquisition of real estate.
- Loans range in size from $2,000-75,000.
Loan Applications
Loan application forms are not yet available online. Please contact OPDC for applications and the required Personal Financial Information form.
Grant Programs:
- Commercial Property Rehabilitation & Preservation Grant Program:
- Partner program with the Village of Oak Park
- Offers a partial reimbursement to building/business owners to upgrade the facades of commercial property in Oak Park.
- Grants of 25-50% of the cost of pre-approved eligible exterior work are available, to a maximum grant of $25,000 per project.
Grant Applications
Grant applicants: please contact OPDC @ 708/383-3838 prior to submitting an application.
A grant application ready for review consists of completed 1) Application and 2) Guidelines (click below for these two documents) and all attachments required on the Application.
1. Application for Commercial Property Rehabilitation & Preservation Grant Program
2. Guidelines for Commercial Property Rehabilitation & Preservation Grant Program
Other Oak Park financial assistance
For more information visit: