Nonprofit and Small Business Assistance

Various programs assist nonprofits and small businesses with financing. Check with organizations and lenders with whom you have preexisting relationships, who can direct you to other funders and lenders; and community development organizations and chambers of commerce in the communities in which you want to purchase, who might know which lending institutions and organizations have a special interest in the area. Review the Community Profiles in Chapter 15: Chicago’s Neighborhoods to find a listing of these organizations.

Smaller community banks and lending institutions located in the neighborhoods that interest you often have less stringent requirements than larger lending institutions. They might offer programs targeted specifically to their immediate community surroundings. 

If you plan to rehab or develop a space, check out the resource sections of Chapter 22: Rehabbing Your Space and Chapter 27: Developing a Facility for funding sources. Each program has different requirements for participation.

The resource section of this chapter provides the contact information for many lenders (community banks, venture capitalists), nonprofits, and government-sponsored loans and programs (local, state and federal).