ROCKFORD, Ill. — The local city government will launch a program to support local businesses.

The City of Rockford announced it will kick off the Business Advancement Program, a new initiative that the City said is designed to support local businesses as they grow.

The program offers 5-year forgivable loans to qualifying for-profit businesses that have a physical location in Rockford.

To qualify for the program, eligible projects can include multiple costs tied to the growth of the businesses. Some examples the City gave were equipment upgrades, rent, salaries, marketing, and other operational expenses.

Initial loans will be matched 1:1 up to $25,000, the maximum reward amount for the program, according to the City.

Each participant's loans will be forgiven in full after 5 years, as

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