Small Business Microlending

What is a Microloan?

Microloans are business loans provided by community oriented financial institutions that help new and existing businesses get the capital they need to succeed. Generally, they range from $2,000 – $50,000

Apply for a Loan

Step 1: Carefully prepare a business plan.  There are many free resources available to guide you through this process including the Illinois Small Business Development Center and SCORE Chicago

Step 2: Contact one of the partners below and request an appointment to review your business plan and start your loan application.

Step 3: If you are approve for a loan, congratulations! We’d love to hear about it! If you are turned down, make sure to ask why.  The lender should provide you recommendations for how to improve your application.

ACCION Chicago
1436 West Randolph St. Suite 300
Chicago, IL 60607
Chicago Community Loan Fund
29 E. Madison St. #1700
Chicago, IL 60602
North Side Community Federal Credit Union
1011 W. Lawrence Ave.
Chicago, IL 60640
Jennifer Sierecki: 773-769-5800
South Side Community Federal Credit Union
5401 S. Wentworth Ave.
Chicago, IL 60609
The International Bank of Chicago
5069 N. Broadway Ave.
Chicago, IL 60640
The JVS/ Duman Microenterprise Center
216 W. Jackson Blvd. Ste. 700
Chicago, IL 60606
Chicago Neighborhood Initiatives
1000 East 111th St
10th Floor
Chicago, IL 60628
Women’s Business Development Center
8 S. Michigan Avenue, 4th Floor
Chicago, IL 60603

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