Accion Serving Illinois News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Fri, 01/15/2021 - 5:39pm admin Illinois officials on Friday, Jan. 8, announced more than $275 million in nearly 9,000 emergency assistance grants have been made to small businesses in over 600 cities and towns statewide through the Business Interruption Grants, BIG, program.  The funding was announced by the Illinois Department of Commerce and Economic Opportunity, DCEO, and Gov. JB Pritzker. Small businesses in Union County are among those receiving emergency assistance grant funds. Those receiving grants in Union County included Sinisi’s on Main in Anna, the Sha...

Oftentimes it’s a lot less visible. Based on the West Side of Chicago, Accion Serving Illinois and Indiana is a revolving loan fund for small businesses. It primarily makes microloans — defined as small business loans of $50,000 or less — to borrowers who otherwise may only have access to predatory lenders. Its average loan size is $8,000. Nearly 40 percent of its clients are Black, more than 20 percent are Latino, and three-quarters are low-to-moderate income. Around the fifteenth of every month, the team at Accion compiles their monthly financial report, and when it does it also loo...