This microlender works throughout Chicago, but most of its business is within the city's Cook county, said Jill Stephens, vice president of lending and marketing at ACCION Chicago.
The nonprofit typically provides capital to startups or businesses with not-perfect credit; a third of ACCION Chicago's loans are to businesses that are six months old or younger.
But lately, the organization has been working with clients who are ''bankable,'' meaning they have good credit scores and even real estate as collateral. ''They might have had a line of credit with a bank, but it was pulled back, she said.
The organization disbursed 120 loans in 2008.
ACCION Chicago runs a training and loan program for people with criminal records. The 10-week class puts 20 formerly incarcerated would-be entrepreneurs through business boot camp, and they emerge at the end with business plans.
ACCION Chicago funds the most promising -- about 14 loans so far -- and more are forthcoming.
Los Angeles is just one of 10 most affordable cities for doing business, according to a study by PricewaterhouseCoopers and the Partnership for New York City. More
