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The Illinois Finance Authority (IFA) is a self-financed, state authority principally engaged in issuing taxable and tax-exempt bonds, making loans, and investing capital for businesses, non-profit corporations, and local government units statewide. The Authority operates the Technology Development Bridge, an Illinois venture capital fund that provides seed stage equity financing to small technology companies. It is an innovative public-private partnership, developed by the Illinois Coalition (now the Illinois Technology Development Alliance) and funded by the Illinois Finance Authority, aimed at helping technology firms access capital they need to grow and create jobs. Equity investments typically range from $150,000 to $300,000. Candidates must be small, privately-owned businesses with less than 50 employees, developing or commercializing a new technology or invention. Since its formation in 2004, IFA has funded 496 projects representing over $25 billion in capital projects to support growth initiatives throughout Illinois. The Illinois Finance Authority has over $24 billion in private activity bonds (PABs) outstanding.
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