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:

•         Jonathan Brereton 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 organizations.

•         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 information here or contact Jonathan Brereton at 312.275.3000 x106 or jbrereton@accionchicago.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 312-275-3000.

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.