Capital for Minority Owned Small Businesses

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Chicago Entrepreneurs of Color Fund5

Fifth Third Bank, JP Morgan Chase, and others partnered with Accion Chicago and LISC to provide a fund for Black entrepreneurs in Chicago’s South and West side neighborhoods to gain access to affordable working capital, training and technical services. Eligible Back owned businesses can be in the start-up phase or already existing status. Accion Chicago will use fund investments to deploy loan capital up to $100,000 while LISC Chicago will provide loans between $100,0006 and $500,0007. This capital encourages the revitalization of these and other underserved neighborhoods through commercial and small business development.

To apply for the Chicago Entrepreneurs of Color Fund, interested business owners should contact Accion Chicago at 312-275-3000 (up to $100,000) and LISC at 312-422-9550 ($100,000 and up).

Detroit Entrepreneurs of Color Fund8

Fifth Third Bank, JP Morgan Chase, the Kellogg Foundation, Detroit Development Fund and others have partnered to create a fund for Black owned businesses in Detroit and businesses that primarily hire people of color to gain access to affordable loans and technical business assistance. The fund, facilitated by the Detroit Development Fund, provides loans ranging from $50,000 to $200,0009 as well as business assistance to Detroit entrepreneurs of color.

To apply for the Detroit Entrepreneurs of Color Fund, interested business owners should contact the Detroit Development Fund at 313-784-9547.

Additional Resources

Why Your Small Business Needs a Mobile App

Smartphones have revolutionized the way brands can market to consumers through branded apps.

Cash Flow vs. Profitability: Which Matters More?

What's the difference between cash flow and profitability in business? Learn how these business terms impact efficiency, business operation, and more.

Business Checking: Required Documents

Certain documents are required to open a business bank account. Here's what to bring when opening a business checking account with Fifth Third Bank.

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