Chicago Microlending Institute (CMI)
Accion Chicago is forming a new collaboration with the Chicago Microlending Institute (CMI) to deliver microloan fund consulting services on a
local and national basis. In light of
the changes in the economy and the new realities for entrepreneurs,
nonprofit organizations must step forward to provide a larger share of the
capital access needs of small businesses. CMI’s objective is to increase the number, size, and effectiveness of
nonprofit small business loan funds in underserved communities.
The CMI team will include the following four professionals
with extensive experience in loan funds, business credit, nonprofit management,
and financial management:
has been with Accion Chicago for more than 10 years and has held the position
of Chief Executive Officer for the last six years.
Fran Grossman is a seasoned community and economic
development banking professional with more than 35 years experience.
Michael Traynor has 35 years
experience in strategic planning and finance including 25 years as a banking
professional and 10 years as a consultant focusing primarily on nonprofit
Eric Weinstein has 18 years of
investment, business analysis, and management experience.
CMI’s goal is to utilize Accion Chicago’s experience and expertise to
build similar organizations that can provide small businesses with better
service and enhanced prospects for success, both locally and nationally. To learn
more about this collaboration, download the presentation with more background
or contact Jonathan Brereton at 312.275.3000 x106 or firstname.lastname@example.org.
Neighborhood Recovery Initiative
The State of Illinois recently partnered with Accion
Chicago to increase credit access for small businesses through the Neighborhood
Recovery Initiative. The NRI program provides discounted loans, purchased down
by the state, to clients in the following counties: Cook, DeKalb, DuPage,
Grundy, Kane, Kendall, LaSalle, Will, and Lake.
Accion Chicago's standard underwriting and application process will apply. Loans
will range in size from $500 to $50,000. Clients eligible for the program will
need to provide additional documentation and reporting. Funds will be
available for a limited time. For more
information, please reference the standard Accion loan process here. By applying for a loan, you will automatically be considered for the NRI
program. If you have additional questions, please call the Accion office at
Samuel Adams Brewing the American Dream
Brewing the American Dream is a program designed by Samuel Adams to help food-, beverage-, and hospitality-oriented small business owners, as well as craft brewers, grow and strengthen their businesses. No matter the stage of your business, home-based, just opened, or established, Brewing the American Dream provides the resources you need to achieve your goals.
Visit the Brewing the American Dream website to learn more.