The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

'•^vS.v . McHenry State Bank chosen participant in state program MCC instructor also ACE counselor By Robert Gordon McHenry State Bank was selected as one of two McHenry County banks to participate in the state's most recent low in­ terest mortgage program. "This is the fifth mortgage package Illinois has offered potential home owners, and it's the largest yet," Governor James Thompson said. "The Affordable ~~ has been helping I they couldn't afford without the help of this program. Nearly 7,000 families nave purchased a home through this program and 1,500 others are ready to sign final papers." McHenry State Bank, one of 42 SSSftl Me Mortgage Program m highly successful in families find a home lending m- draw mortgage applications on Feb. 25 for 30- year mortgages at a fixed in­ terest rate of 10.78 percent. According to McHenry State Bank Vice-president Rick Lane, chances of winning part of the 1.6 million in mortgage loans are "excellent." "The drawing is actually divided in half. Lane said. "1800,000 goes to home builders and $800,000 goes to home buyers." "Last year about 18 of 63 (applicants) were actually successful in getting the money," Lane added. Lane said the loans are specifically designed for first- time home owners-individuals who have not owned a house in the last three years. . Thompson said this latest plan should provide about 2,800 mortgages for single-family homes, condominiums and small, owner-occupied buildings of up to four units. The loans will be available in all 102 Illinois counties. "The state is trying to stimulate home building, but at the same time keep the existing housing steady," Lane said. "It's (the loan interest rate) is about two dollars below the market-two percent over 30 years," Lane said. "That could be a savings of thousands in interest saved." "Most small businesses that fail in the first two years do so because of cash flow problems," says McHenry County College instructor, Dicfe Hranac, one of only 25 vocational educators in the state to be selected for training as a U.S. Small Business Administration Active Corps of Executives (ACE) Counselor. "The Chicago metropolitan area has lost small businesses due to economics," continues Hranac. "Businesses that hire 1-25 people are an important part of our economy. They employ the largest percent of the work force. The ACE idea is to help people having problems with their business." Hranac will be trained as a counselor-educator, to help business people see where their problems are, why they are not succeeding and what they can do about it. He sees his part in the program as being the utilization of his area of expertise to help someone else in Illinois, anywhere along the line that, his experience can help that business person to succeed. The problem might be in accounting procedures, cash flow, time studies, the need for information from the Small Business Administration or state* whatever. Hranac will also work with tjiose with a good idea wanting to go into business, helping such an individual survey markets, production costs, possible profit range and loan possibilities. < Hranac is a full-time in­ structor and coordinator of the automotive technology program at McHenry County College. Centennial applications accepted Illinois businesses that have been operating for 100 years or more should apply to the Illinois State Historical Society for recognition, state Rep. Dick Klemm (R-Crystal Lake) an­ nounced today. Applications for the 1985 Centennial Business Program are being accepted now through April 15. "Our century-old businesses certainly deserve recognition," Klemm said. "These businesses have been the mainstays of our communities for years, providing continuous support and service." Klemm said the Centennial Business Program helps the Illinois State Historical Library collect historical data on cen­ tury-old businesses and enables it to recognize businesses who have aided in Illinois' growth and development. Each year the society recognizes the first 200 businesses to apply and be verified. Businesses meeting the necessary criteria will be officially designated Illinois Centennial Businesses and receive certificates at a fall banquet. The 200 businesses will also be listed in the Directory of Illinois Centennial Businesses and receive a one-year business membership in the Illinois State Historical Society. Klemm said applications may be obtained through the Illinois State Historical Society, Old State Capitol, Springfield, ILL. 62701. Verification of the company's founding year through submission of a primary resource dated 1885 or before is also required. Althoff on board of directors Mrs. Kathleen Marinangel, chairman of the board of McHenry Savings and Loan Association, recently announced the installation of James Althoff to the board of directors. Mr. Althoff is the founder of Althoff industries and Althoff & Associates, and serves as chairman of the board, president and chief executive officer. He brings his multi-faceted experience to the board. In 1979, Governor Thompson appointed him to a six year term to the board of governors of state colleges and universities. In addition, Althoff was the Bradley University fathers club president and served as president of District 156 Board of Education from 1969 to 1979. Althoff also served five consecutive three-year terms as president of McHenry Township Fire Protection District. Most recently, he served as chairman of the Northern Illinois Medical Center fund raising program for McHenry's 200 oed hospital which was completed in June, 1984. knuth' Office Machine Sales and Service swintec MODEL 1146CM 46 character correcting memory, relocation key, express key, independent repeat key, automatic paper teed, indexing, reverse indexing, L.E.D. displays. Both serial RS-232 & Parallel Centronics Interfaces available. liiAASs SALE PRICED AT '49995 Canon €<€»» PLAIN BOND CARTRIDGE COPIER PRICES STARTING AT'7500" CARTRIDGE SHARP VX1612 *99« OFFICE PRINTER WITH DISPLAY knuth9 s 228 MAIN ST. • WOODSTOCK • 338-3535 Since 1929 / •• \ RED DOT CLEARANCE! coordinates sportswear separates men's winter outerwear more! ^ SKCTIOlN t - l'A(»K 5 - I'l.AIMlKAI.I'.K-HI.U M.|» UI.MM.MtA 1 . I I.IIH 1 Alt 1 I t I'MT. Business Already Reduced Items Marked With a Red Dot! Sample Savings: If the item was originally 30.00 Already reduced to $18 JP^L RED DOT PRICE 13.50 ^9 You save 16.50! DON'T WAIT! ~R, Shop Spring Hill Mall Mon. Fri. 10-9, Sat. 10-5:30, Sun. 11-5 (312)426-9100 <f