$750,000 for Chicago Small Business Loans
Micro loans being offered to small businesses (including artists) through Accion Chicago
Mayor Richard M. Daley joined City Treasurer Stephanie D. Neely to announce the first increment of $750,000 has been released to “ACCION Chicago” to lend to Chicago Small Business Owners (artists who operate as small businesses will also qualify). The money is part of a $3.2 million dollar Small Business Development Fund created by proceeds from the leasing of the Chicago Skyway. Businesses must meet the qualifying guidelines and lending standards.
City Treasurer Stephanie Neely has made helping Chicago Small Business Owners a top priority of her Office and adds “ Coming from a family of Chicago small business owners meeting and helping solve problems for our businesses is a personal and professional passion. Small business is the backbone of our local and national economy, and the biggest generator or new jobs. My Office connects with thousands of small business owners each year and having a solid business plan and capital are two of the major needs of small business.”
The money was issued following an RFP Process. While the City Treasurer’s Office is happy to announce this money and to announce more RFP’s will be announced in 2010 – please contact ACCION to answer all loan questions.
To see video click below
http://www.youtube.com/watch?v=IuXq9DuXjMY&feature=related
ACCION Chicago is an alternative lending organization dedicated to providing credit and other business services to small business owners who do not have access to traditional sources of financing. By encouraging the economic self-reliance of microentrepreneurs throughout the Chicagoland area, ACCION Chicago strives to help businesses and communities grow.
Many of their clients do not have access to traditional bank loans. The small size of their loan request and limited credit history regularly make them ineligible for conventional financing and unable to obtain the credit they need to grow their businesses. ACCION Chicago provides the credit and training necessary to help small business owners increase their incomes, create new jobs and strengthen their communities.