Winnebago County AgendaPacket 2026-06-11
$50,000 Business Loan to Halal Foods America Approved
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Description
The Winnebago County Board approved a $50,000, 5-year loan at 8% interest to Halal Foods America, Inc. dba International Halal Market to support the business's expansion into a Mediterranean and South Asian restaurant. The loan, from the County's Revolving Loan Fund, is secured by personal guarantees from both principals and aims to support job creation and minority entrepreneurship.
Contract Details
Contract Amount
$50,000 at 8.0% interest for 5 years
Vendor
HALAL FOODS AMERICA INC DBA INTERNATIONAL HALAL MARKET
Agency
Winnebago County, IL
Contract Type
FINANCIAL_SERVICES
Document Date
June 11, 2026
Contract Term
July 2026 – June 2031 (5 years)
Renewal Date
2031-06-30
Renewal Info
Loan term is for 5 years amortized; renewal not automatic; repayment terms set in agreement.
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