Small Business Lending
Small businesses are the heart of a community, creating jobs, providing the services and products it relies on, and a catalyst for additional development and building wealth.
After a decade of being known as CNIMFG (CNI Microfinance group) CNI’s small business lending arm has taken on a new name – Greenwood Archer Capital – commemorating the robust intersection in Tulsa Oklahoma that was once considered the ‘Black Wall Street.
In keeping with that spirit and building on its record of deploying nearly $15 million in loans to more than 1,600 small businesses, of which 81 percent were Black entrepreneurs, GAC is adding equity investments to the products offered to small businesses. And through a new program“Your Forte, Our Finance,” an innovative lending initiative offering 100% financing and low interest rate loans of up to $200,000 for small and Black-owned businesses seeking to purchase commercial real estate.
In addition to these new financial products, GAC has a portfolio of microenterprise and small business loan products and technical assistance programs designed to help entrepreneurs find the financing and services they need to start and/or grow their operation. This includes offering loans of up to $100,000 for established businesses and start-up businesses, allowing for flexible underwriting options to help entrepreneurs launch and expand their businesses. Its loans support businesses with working capital, assist in purchasing new inventory and much-needed capital to growing new businesses.
GAC’s loans are funded by community partners who share its commitment to being a force for tackling systemic racism and building wealth and equity by providing needed resources to small and Black-owned businesses. They include: Associated Bank; Byline Bank; Capital One; Citi; Fifth Third Bank; JPMorgan Chase; PNC Bank; U.S. Bank; Wintrust; Wells Fargo; Fifth-Third; PayPal; Chicago Community Trust; Food Land Opportunity; Robert P. McCormick Foundation; and The Builders Initiative.
Building Strong Communities by Growing Small Businesses
GAC demonstrates it commitment by
- Deploying $18 million in loans and grants to small business owners
- The average loan size is $23,000
- Making 82% of its loans to Black entrepreneurs
- Creating opportunities for small business owners at every stage of the entrepreneurial journey by making 33% loans to start-up businesses
- Making products and services are accessible to all income levels — 71% of its loans to low-to-moderate income borrowers
- Leveling the playing field for women by making 49% of its loans to women business owners
Million Dollars Deployed
Small Businesses Served
of Loans to Low-to-Moderate Income Borrowers