SBIF Lenders

Because of our agency relationship with the City of Chicago, SomerCor does not endorse any of these lenders, but has provided this list as a courtesy for applicants seeking financing to front fund their SBIF project prior to the disbursement of grant funds. Please consult several lenders when you are looking for financing.

Community Bank Lenders


CIBC’s Community Development Group works with small businesses looking for capital for construction projects and other business needs.

Contact: Hussain Bhanpuri
Phone: (312) 564-2675

Contact: Sharnell Curtis-Martin
Phone: (773) 298-5904


Beverly Bank and Trust

Contact: Dante L. Mosely, Relationship Manager
Phone: (773) 753-9667


First Eagle

Contact: Magaly Arteaga, Community Development Associate
Phone: (312) 850-2900

Illinois Service Federal

Contact: Brent Connell
Phone: 773-624-8920



IFF specializes in lending to not-for-profit organizations.

Contact: Torrence Moore, Managing Director of Lending
Phone: (312) 596-5132


Chicago Community Loan Fund (CCLF)

Contact: Wendell Harris, Director of Lending Operations
Phone: 312-252-0427


Wintrust Bank

Contact: Rosalinda Rivera, Vice President/Small Business Banking
Phone: (847) 920-3051


Royal Savings Bank

Contact: Andrew Morua, Senior Vice President of Commercial Lending
Phone: 773-382-2112

Microfinance Loans of up to $100,000

Accion Chicago

Accion offers loans as small as $500 and up to $100,000.

Contact: David Johnson, Community Lending Manager
Phone: (312) 924-2178


Chicago Neighborhood Initiatives Microfinance Group (CNIMFG)

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, President
Phone: (773) 341-2072


Women’s Business Development Center (WBDC)

WBDC provides services and programs to entrepreneurs at all stages of business development, with a focus on supporting and accelerating women’s business ownership. They also provide loans up to $75,000 and can be used for working capital, supplies, and equipment, in addition to property improvements.

Contact: Denise Franta, Director of Access to Capital,
Phone: (312) 853-3477 x 560


National / Regional Bank Lenders

MB Financial

Contact: Tony Brylewski, Vice President of Business Banking
Phone:  708-642-6022


City of Chicago Small Business Improvement Fund Grant | City of Chicago Grants | SBIF | SomerCor

We are always happy to connect small businesses with relevant resources. If you would like to suggest a resource that is not listed here, please e-mail