• The business is located in Cook County.

• The business has been operating for at least four months.

• The business owner meets the household income guidelines shown in the chart on this page.

• The business owner agrees to personally guarantee the loan.

• Applicant provides additional guarantor, or character reference.

Learn more about JFLC Small Business Loans and eligibility requirements here.

• Inventory

• Equipment and software

• Capital improvements

• Marketing and outreach

• Working capital

No, unfortunately, we are only able to provide loans to for-profit companies at this time.

JFLC is able to offer interest-free loans because applicants demonstrate a commitment to repaying the loan. For Small Business Loans, applicants must either provide a qualified outside guarantor or submit a character reference from a trusted business advisor. These requirements help JFLC evaluate an applicant's ability and commitment to manage and repay the loan successfully.

Yes. Small Business Loan applicants who are unable to provide an outside guarantor may submit a character reference from a trusted business advisor instead.

A character reference should come from a trusted business advisor who has an established advising relationship with the business owner and business.

JFLC will email your business advisor a character reference form to fill out. This includes questions pertaining to the business owner’s ability to manage the business, and the business’s strengths and weaknesses.

Personally guaranteeing a business loan means the business owner agrees to be personally responsible for repaying the loan if the business cannot. By signing a personal guarantee, the owner accepts responsibility for repaying the loan according to the terms of the loan agreement. As part of the application process, we will conduct a hard credit pull of the business owner.

Yes. All Small Business Loan applicants are required to personally guarantee the loan. An outside guarantor (or character reference) is an additional program requirement and does not replace the business owner's personal guarantee.

No. Character references are accepted only for Small Business Loan applications as an alternative to providing an outside guarantor. Personal Loan applicants must provide a qualified guarantor and are not eligible to substitute a character reference.