IL SB2198

Creates a small business financing program through the Department of Commerce and Economic Opportunity to provide low-interest financing to small businesses that secure State contracts, helping them fulfill those contracts (subject to appropriation)

Requires the Department of Central Management Services to develop a scorecard for assessing bids from businesses with annual gross sales under $15,000,000, incorporating factors such as relevant experience, location, years operating in Illinois, staff credentials, and innovation

Mandates that advertisements for small business set-aside contracts be uniformly distributed to the small business community throughout the state

Defines small business thresholds: wholesale businesses cannot exceed $13,000,000 in annual sales; retail/service businesses cannot exceed $8,000,000; manufacturing businesses cannot exceed 250 employees; construction businesses cannot exceed $14,000,000 in annual sales/receipts

Requires 25-40% of annual state construction contracts be designated as small business set-asides for executive branch agencies