Acción promotes success for Chicago microentrepreneurs

Aerial photo of the Chicago skyline, taken during daytime hours.

Acción Chicago gives small businesses options. (Photo Credit: CC BY-SA/Wilhelm Joys Andersen/Flickr)

When individuals in the Chicago area need fast cash to cover for an accidental budget shortfall, they can apply for Chicago installment loans and Chicago short term loans. However, if a small business needs money to get off the ground or perform the renovations needed to expand, consumer short term loans and installment loans aren’t the best tool for the job. That’s where companies like Acción Chicago are most valuable.

Acción Chicago connects small businesses with microloans

Acción Chicago’s motto states that it is “committed to bringing affordable microfinance solutions to small business owners who need them.” By extending assistance to thousands of small business owners throughout the Chicago area, Acción Chicago has been helping plant roots that form the foundation of strong communities since 1994. Successful small businesses that display a commitment to civic pride are the kinds of businesses that Acción Chicago assists every day via a variety of microfinance options.

Helping with micro installment loans

Inevitably, some small businesses will have difficulty thriving, particularly in today’s economy. However, with microfinance companies like Acción Chicago putting forth the desire to grow strong communities via business opportunities and the jobs that follow, there are numerous paths toward small business success where once none existed. By using a formula that encourages small business owners to work toward economic self-reliance, Acción Chicago helps give small business the wings to fly toward increased revenue and job creation.

A character-based lending method

Acción Chicago does not make microlending decisions based solely upon small business revenue, collateral or credit. In order to determine what kinds of micro business installment loans and micro short term loans a small business may qualify for, a client’s level of commitment – as well as a sampling of customer and supplier references – are considered. Like a consumer short term loan or installment loan application, Acción Chicago works to ensure that the microlending application process is quick and easy for small businesses.

Acción Chicago microloan details

Microentrepreneurs searching for a cash infusion may borrow from $500 to $25,000 at a fixed annual APR as low as 12.62 percent. These 60-month installment loans require minimal documents for application. For more info, call 312-275-3000 or e-mail info@accionchicago.org.

Sources

Acción Chicago

Illinois Small Business Association Director Judith Roussel on microloans

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