HANOVER, Ill. – Area economic development officials recently announced the creation of a new investment fund available to Jo Daviess County businesses.

The Genz Memorial Investment Fund will provide $4,000 to $8,000 in gap financing to businesses or entrepreneurs looking to fund pilot projects in Jo Daviess or Carroll counties. In a press release, Northwest Illinois Economic Development stated the fund was created by the late John “Jack” Genz, of Galena, and will be administered by Illinois Bank & Trust.

The fund totals more than $400,000.

NWILED will award three loans per year to applicants. Anyone wishing to receive an application can contact NWILED at 815-297-7361 or by emailing elgel@nwiled.org. All applications for the 2021 awards must be turned in by April 30.