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Small businesses can sample from a variety of loan options offered by Somercor, which also managers the Small Business Improvement Fund. SomerCor is also a member of Goldman Sachs' 10,000 Small Businesses Initiative, providing up to $250,000 to businesses that apply. Proceeds can be spent on working capital, business purchases, equipment and inventory, construction, real estate, and more.
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US Small Business Administration
The SBA offers access to capital and counseling to businesses seeking government contracts - a great resource for veteran business owners. View a full roster of services here.
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The Chicago Small Business Center is partnering with The PrivateBank to make no-fee, low-interest loans for local entrepreneurs who finish their free Start-Up Certificate Program. The program gives entrepreneurs the fundamentals to start, operate, and grow a small business. Participants complete a nine-workshop curriculum, all within six months of the first workshop.
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Since 1991, Accion has made more than 3,300 small business loans totaling more than $27 million in Illinois and Northwest Indiana. Accion also offers loans via the Chicago Microlending Institute ranging from $500 to $50,000 to business owners in need.