Small Business Development,
Urban & Community Economic Development
Mission: ACCION Chicago is an alternative lending organization dedicated to providing credit and other business services to small business owners who do not have access to traditional sources of financing. By encouraging the economic self-reliance of microentrepreneurs throughout the Chicagoland area, ACCION Chicago strives to help businesses grow and communities develop.
Results: -Since 1994, ACCION Chicago has made more than 2,300 small business loans, totaling over $17 million
-68% of ACCION clients saw an increase in net monthly income; 53% of clients saw their monthly net income increase by over 100%
-ACCION clients created or maintained an average of 2.6 jobs since receiving their loan
-79% of clients believe that their business success impacts their community
Target demographics: ACCION operates throughout the thirteen collar county area surrounding Chicago, including Cook, Lake, McHenry, Kendall, Kane, DuPage, De Kalb, LaSalle, Grundy, Will, and Kankakee counties in Illinois as well as Lake and Porter counties in Indiana.
Direct beneficiaries per year: ACCION provided microloans to 205 small business owners in 2010, amounting to a total of $1,431,610 disbursed.
Geographic areas served: Greater Chicago Area
Programs: In 2009, ACCION Chicago launched its Micro Enterprise Re-entry Investment Trust. This program provides financial services and business counseling to formerly incarcerated individuals to help them successfully begin their own business. ACCION is collaborating with community-based organizations to implement the program and to identify and sponsor program participants. During the program's first two years in operation 36 individuals have completed or are in the process of completing entrepreneurship class in which they will receive one-on-one counseling to assist them in creating a business plan.