Small Business Improvement Fund
Microfinance Loans of up to $50,000 and $100,000
Accion offers loans as small as $500 and up to $100,000.
Contact: Kate Novotny, Senior Loan Officer, P: (312) 924-2177 E: firstname.lastname@example.org
Contact: Nic Baria, Senior Loan Officer, P: 312-275-3000 ext 114, E: email@example.com
A partner of the City of Chicago, CNI can lend up to $15,000 for start-up business and up to $50,000 for established businesses.
Contact: Erica King, VP, Lending, P: (773) 341-2072, E: firstname.lastname@example.org
WBDC provides mentoring services to both women and men entrepreneurs. They also provide loans up to $75,000 and can be used for working capital, supplies, and equipment, in addition to property improvements.
Contact: Idaima Robles, Director, Access to Capital, P: (312) 853-3477 x 560, E: email@example.com
Community Bank Lenders
Beverly Bank & Trust
A Wintrust Bank, Beverly Bank is interested in providing SBIF bridge loans for construction projects for both commercial and industrial applicants.
Contact: Dante L. Mosely, Relationship Manager, P: 773-753-9667, E: firstname.lastname@example.org
First Eagle will work with select SBIF grant recipients to provide financing for SBIF-approved renovations. They are located on the Near West side of Chicago.
Contact: Magaly Arteaga, Community Development Associate, P: (312) 850-2900 E: email@example.com
Illinois Service Federal
Illinois Service Federal provides an array of banking services and business loan products for small businesses with a focus on the South side of Chicago.
Contact: Brent Connell, P: 773-624-8920, E: firstname.lastname@example.org
Seaway Bank provides an array of banking services to a variety of industries including construction loans for small businesses that need to bridge the funding for SBIF projects.
Contact: Dan Davis, Business Banker, P: (773) 602-4116, Em: email@example.com
IFF specializes in lending to not-for-profit organizations.
Contact: Victoria Lakes-Battle, Director of Lending – Northern Illinois/Northwest Indiana, P: (312) 521-7375, E: firstname.lastname@example.org
Chicago Community Loan Fund (CCLF)
CCLF provides loan and technical assistance with the mission of community stabilization and development.
Contact: Wendell Harris, Director of Lending Operations, P: 312-252-0427, E: email@example.com
North Shore Community Bank & Trust
North Shore Community Bank & Trust will do SBIF loans to Chicago businesses or real estate owners who are north of North Ave. and east of Harlem Ave.
Contact: Rosalinda Rivera, Vice President/Community Banking Loan Officer, P: (847) 920-3051, E: firstname.lastname@example.org
Royal Savings Bank
Contact: Andrew Morua, Senior Vice President of Commercial Lending, P: 773-382-2112, E: email@example.com
Bridgeview Bank Group
Contact: Kimberly Jung, Vice President – Commercial Lending, P: 773-989-5731, E: firstname.lastname@example.org
National/Regional Bank Lenders
MB Financial will do SBIF bridge loans from $50,000 and up. Loans will typically be interest only during the construction period.
Contact: Stephen Ball, P: 847-653-1197, E: email@example.com
BMO Harris Bank
Contact: Joseph H. Kennedy, P: (773) 451-2621, E: Joseph.Kennedy@bmo.com