City of Chicago :: Loans Under $ 50K
Allies for Community Business (A4CB) provides the capital, coaching, and collaboration entrepreneurs need to build great businesses in their communities. As a community development not-for-profit financial institution, A4CB offers fair-priced loans between $ 500,000 and $ 100,000 for young, emerging, and established businesses. In addition, A4CB offers free 1: 1 coaching to anyone looking to start or grow a business.
135 N. Kedzie Ave.
Chicago, IL 60612
The Duman Entrepreneurship Center Loan Fund provides loans of up to $ 15,000 to companies who can demonstrate that the loan will help the company grow. These are 3-year term loans with very low interest rates and no prepayment penalties. There is a low loan application fee and closing costs. The owners must personally guarantee the loan and the owner’s credit history is checked.
216 W. Jackson, Ste. 700
Chicago, IL 60606
3525 W. Peterson Ave.
Chicago, IL 60659
Kiva Zip is an online platform that enables underserved entrepreneurs to access small business loans at 0% interest up to $ 5,000 (second loans up to $ 10,000). These loans are crowdfunded online by individual lenders, connecting borrowers with prospects, brand ambassadors and the community. Kiva Zip rates creditworthiness based on a borrower’s character and reputation in the community, rather than their creditworthiness or bank balance. As part of the nonprofit Kiva, Kiva Zip aims to expand financial opportunities for entrepreneurs, reduce the cost of capital, and improve connections between lenders and borrowers.
If you have any questions, please contact [email protected]
Loans up to $ 25,000 are available for new and existing small businesses in the city of Chicago and are aimed at businesses operating in low- to middle-income communities.
Chicago, IL 60603