MICROLOAN PROGRAM ACT Senate SponsorsSen. Dan Kotowski and William R. Haine 1/10/2017SenateSession Sine Die New Act30 ILCS 105/5.866 newCreates the Microloan Program Act. Provides that the Director of Commerce and Economic Opportunity may (i) make grants to eligible intermediaries for the purpose of making short-term, fixed interest rate microloans to small business concerns, (ii) make grants to these intermediaries for the purpose of providing intensive marketing, management, and technical assistance to small business concerns that are borrowers under the Act, (iii) issue grants to administer a training program to train intermediaries in the knowledge, skills, and understanding of microlending necessary to operate successful microloan programs. Specifies criteria that eligible intermediaries must satisfy. Sets forth requirements for grants made to intermediaries; marketing, management, and technical assistance grants to intermediaries; and the equitable distribution of intermediaries. Provides that the Department of Commerce and Economic Opportunity may issue grants to administer a training program for intermediaries that presently have minimal or no expertise or experience in microlending. Requires the Department to file certain reports with the General Assembly. Authorizes the Department, subject to appropriation, to use the moneys in the Fund to carry out the purposes of the Microloan Program Act. Amends the State Finance Act. Creates the Business Loan and Investment Fund as a special fund in the State treasury. 2/3/2015SenateFiled with Secretary by Sen. Dan Kotowski 2/3/2015SenateFirst Reading 2/3/2015SenateReferred to Assignments 2/11/2015SenateAssigned to Financial Institutions 3/25/2015SenatePostponed - Financial Institutions 3/27/2015SenateRule 3-9(a) / Re-referred to Assignments 4/30/2015SenateAdded as Co-Sponsor Sen. William R. Haine 1/10/2017SenateSession Sine Die