Ill. Admin. Code tit. 56 § 5410.370
Current through Register Vol. 48, No. 49, December 6, 2024
The Board shall award Grants to Applicants only when the applicant has demonstrated that a loan would not achieve the purposes of the program (Section 18(f) of the Act). An Applicant may demonstrate that a Loan will not achieve the purposes of the program by demonstrating that a Loan is against company policy; that a Loan will place an unreasonable burden on the Applicant such as when there is an uncertainty as to future profits or where Loan repayments would impair cash flow, or by other similar demonstrations. No grant shall exceed one-half the cost of the Training Program to be provided by the employer or its agent. (Section 18(c) of the Act)
Ill. Admin. Code tit. 56, § 5410.370