WCC joins lending initiative

By on March 20, 2010

Regional—The Illinois Small Business Development Center (SBDC) at Waubonsee Community College and ACCION Chicago have partnered to launch a small business loan fund.

The SBDC at Waubonsee Community College has become a Remote Lending office for ACCION Chicago, furthering ACCION Chicago’s mission of ensuring that all deserving borrowers throughout Chicagoland are able to access the credit they need.

“Many small businesses in the … area lack access to bank financing,” said Harriet Parker, director of the SBDC at Waubonsee Community College. “This partnership will bring that much needed capital to this community.”

Business owners seeking ACCION Chicago small business loans can now apply directly through the SBDC at Waubonsee Community College’s Remote Lending office, located at the college’s downtown Aurora campus, 5 E. Galena Boulevard. This local presence will allow ACCION Chicago to more easily reach area small business owners in need of business capital.

ACCION Chicago is a local nonprofit organization focused on providing technical assistance and small business loans to Chicago-area minority and low-to-moderate income small business owners. The organization’s unique lending methodology is not based on revenue, collateral or credit alone, but also on clients’ commitment to their businesses, as well as references from customers and suppliers. In the past 15 years, ACCION Chicago has disbursed more than 2,000 business loans totaling more than $16 million.

For more information visit the ACCION Chicago website at www.accionchicago.org.

For more information, visit www.waubonsee.edu/sbdc or call (630) 906-4143.