Program Name: Rail Freight Loan Program
Organization: Illinois Department of Transportation (IDOT)
Address: Illinois Department of Transportation (IDOT)

Bureau of Freight Rail Management

69 W. Washington St., Suite 2100

Chicago, IL  60602


Briefly Describe the Purpose of the Program
The purpose of the Rail Freight Loan Program is to provide capital assistance to communities, railroads and shippers to preserve and improve rail freight service in Illinois. The primary role of the program is to facilitate investments in rail service by serving as a link between interested parties and channeling government funds to projects that achieve statewide economic development.  The program generally provides low interest loans to finance rail improvements.  Under special circumstances grants may be considered.
Year Program Established:
Eligibility Requirements or Restrictions
Financing is made available primarily through low-interest loans from the RFP. All projects financed by IDOT must be analyzed and found eligible through the use of a benefit/cost analysis.  Projects with a benefit cost ratio of one or greater are eligible; however, additional criteria must be met before any project funds are obligated.
Application Deadline:
Application Guidelines:
Requests for RFP funds should include the following information: (1) a general description of the project and a location map depicting the beginning and ending points; (2) benefits expected from the project (e.g., job creation and retention, transportation savings, etc.); (3) the name of the industries involved, and the name, title, address, and telephone number of the principal contact for the project; and (4) an engineer’s cost estimate, if available.
Funding Cap Per Application or Fiscal Year Program Funding:
How Must Funds Be Used:
The program provides funds for capital improvements to rail lines, or for construction or rehabilitation of industrial service tracks and related facilities.