Microfinance for Low-Income Entrepreneurs in U.S.

by Lending for Evanston and Northwestern Development
Apr 25, 2013

LEND Winter 2013 Newsletter

LEND seeks recipient for Farley Microloan
LEND is proud to announce the James Farley Memorial Microloan, a new initiative aimed at supporting young Evanston entrepreneurs—a group underserved by traditional financial institutions. The loan, named for the Northwestern alumnus and benefactor of the Farley Center for Entrepreneurship and Innovation, will provide these entrepreneurs with the capital they need to kickstart their businesses. LEND will announce the first recipient of the loan this May at the Entrepreneur@NU conference. If you know any young entrepreneurs in Evanston who would benefit from the loan, please email LEND with their information.


Vote for LEND in NSH Impact Week!

Northwestern Student Holdings (NSH) is a student-run holdings company that funds and operates several businesses serving the Northwestern and Evanston communities. NSH Impact Week is a week-long event that provides the opportunity for students and the greater community to support various Northwestern service groups on campus in increasing awareness and securing additional funds. LEND has partnered with NSH initiative NUTutors in a video competition with a grand prize of $1000. The primary way to support LEND is to view and vote for our video online through NSH. Prize money will be used towards providing capital to our clients in the Evanston area, thus supporting these entrepreneurs in realizing their business ambitions. Please vote here! http://www.nshimpact.com/lend.html


Second loan for SeeJaneSparkle

In March, LEND approved a second microloan for SeeJaneSparkle, the year-old Main Street jewelry boutique. Second microloans typically indicate good business health and growing demand; SJS is LEND’s first-ever repeat client.

In disbursing the loan, LEND has injected over $20,000 in high-impact financing into the Evanston economy over the last 3 years.

New loan approved for therapist

Evanston-based therapist Mary Jackson received LEND's eighth microloan on Friday, April 19. The microloan will help Jackson expand the geographical range of her services, as well as her operating hours.

Evanston hosts fashion show for LEND client Avail & Co.

On February 24, the city of Evanston hosted its first annual Downtown Wedding Walk. The event took place over the course of the afternoon and showcased several local boutiques and venues to brides-to-be and their guests. The day culminated with a fashion show at lounge and event venue 27 Live, and featured gowns produced by LEND client Avail&Co. 
Designer Rachel Alvia prepared dozens of pieces ranging from cocktail bridesmaid dresses to sweeping floor-length white gowns and flower girl frocks.  Her husband and business partner Ted said he appreciated the warm welcome from the Evanston community, especially after their recent move to a storefront location on Davis Street in October. Ted and Rachel recently received a loan from LEND to purchase new equipment.  Additionally, LEND team members continue to collaborate with them on online marketing, internal memory and the production of a short video.  Learn more about Avail & Co. at http://www.availco.com

Partnership with Now We're Cookin' Food Business 101

Now We’re Cookin’, a commercial kitchen space and demonstration studio in Evanston, launched its first Food Business 101 course for aspiring food-service entrepreneurs in mid-Winter. LEND visited in late March to present its services and resources to the program participants. Staff ambassadors have already begun working with some of the entrepreneurs, given LEND’s experience with working with food service businesses.



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Organization Information

Lending for Evanston and Northwestern Development

Location: Evanston, IL - USA
Website: http:/​/​www.lendevanston.org
Project Leader:
Victoria Chi
Evanston, IL United States
$23,091 raised of $45,000 goal
288 donations
$21,909 to go
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