The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for:
The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.
Greenwood Archer Capital (GAC) provides entrepreneurs with loans and technical assistance necessary to start and/or grow their operations. GAC loans support businesses with working capital, assist in purchasing new inventory/equipment and provide start-up capital for new businesses. https://greenwoodarchercapital.org/apply-for-a-loan
Fearless Fund invests in women of color led businesses seeking pre-seed, seed level or series A financing. Our mission is to bridge the gap in venture capital funding for women of color founders building scalable, growth aggressive companies. Fearless Fund is built by women of color for women of color. https://www.fearless.fund/apply
Across eight decades, the Ford Foundation has invested in innovative ideas, visionary individuals, and frontline institutions advancing human dignity around the world.
Learn more about our work in civil rights, education, arts and culture, human rights, poverty reduction and urban development and see some of our key foundation milestones below. https://www.fordfoundation.org/work/our-grants/grant-opportunities/
The Small Business Improvement Fund (SBIF) opens for grants each month in various TIF districts across Chicago. The program's three-year funding plan, adopted in December 2020, currently runs through 2023.
Eligible businesses must submit their application during the month-long application window for their TIF district to qualify for funding. To find out if and when SBIF grants are available for your business, search the address on the eligibility page.
Q: How can I apply for a grant?
A: Locate a available grant, review the qualification or call your business coach and let them know and they will assist you with applying.
Q: How can I apply for a small business loan with the SBA?
A: This loan can be based on your credit and your business plan. Ask you coach how to prepare you for the best lender and the process
Q: Is a grant guaranteed to be giving?
A: No grant is guaranteed, but a good try can lead to success.
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