The Chicago Small Business Resiliency Fund was featured in a recent Impact Investing Alliance (the Alliance) report titled Impact in Place. The Alliance strives to create and promote better understanding of capital sources within the impact investing community.
The report illustrates the disproportionately negative impact the COVID-19 pandemic has had on historically underinvested communities. However, the report also highlights several collaborations working to reverse this trend by supporting underserved small business owners.
Collaborations like the Chicago Small Business Resiliency Loan Fund (CSBRF) provide small businesses with the emergency cash flow needed to navigate the COVID-19 pandemic. Through a public/private partnership between the city, small business support organizations and other corporations, CSBRF provided more than 1,700 low-interest loans to small businesses, totaling $43.8 million. As a result, more than 6,400 jobs were created or retained.