Learn More about CDFI's and Small Business Resources in Illinois see here
While the federal government does not provide grants for starting or growing small businesses, one of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury.
Community Development Financial Institutions fall into four categories:
Bethel New Life, Inc
Chicago Community Loan Fund
Chicago Community Ventures
Chicago Development Fund
Community Revitalization Fund, Inc.
FBA Bancorp, Inc.
IBC Bancorp, Inc.
IBC Community Development Corporation
Illinois Ventures for Community Action
International Bank of Chicago
Nonprofit Financial Center
Peoples Economic Development Corporation
PGB Holdings, Inc
Sable Bancshares, Inc.
SBK New Markets Fund, Inc.
The Valued Advisor Fund, LLC
Urban Development Fund, LLC
Urban Enterprise Fund
The Small Business Administration was established in 1953. Since that time the agency has dispensed millions of dollars in loans and loan guarantees, contracts, consulting assistance and other programs for small business across the United States.
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.