News & Events

Founders Bank

Founders Bank is pleased to provide the following financing program for businesses wishing to modify their facilities to make them compliant with the Americans with Disabilities Act (ADA):

Loan Purpose- To provide funds to cover expenses for businesses wishing to improve their commercial properties to make them compliant with accessibility guidelines as established by the Americans with Disabilities Act (ADA). Borrower must meet all local building codes and ordinances relating to the improvements and provide documentation of local authority approval

Maximum Loan Amount- $250,000 per borrower

Interest Rate- 0.50% below Founders Bank standard business loan interest rates

Loan Fees- Bank documentation prep fee waived, borrower to pay normal loan costs and fees associated with the transaction including but not limited to origination fees, appraisal fees, title fees and recording fees.

Terms/Underwriting- Loan terms vary depending on loan structure and type. Borrower to meet all Founders Bank standard underwriting criteria for commercial loans including but not limited to acceptable debt service coverage ratios and collateral guidelines.

Contact:
Mike Rittof
Branch President
(815) 467-8888

Founders Bank looks forward to working with the Will-Grundy Center for Independent Living and the Accessible Cities Alliance in financing accessibility improvements for local businesses.

Persons seeking additional information on the Accessible Cities Alliance are encouraged to contact the coordinating agency, Will-Grundy Center for Independent Living, in any of the following ways: by phone at (815) 729-0162 (V) or (815) 729-2085 (TTY); via email at pamwgcil@sbcglobal.net, or by stopping into the Center at 2415 West Jefferson Street (at Barney Drive) in Joliet.

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