Chicago

86
  • Number of Businesses: 46,298
  • Number of Small Business Advances: 9,492
  • Yearly Small Business Revenue: $122,832,938
  • Two-Year Survival Rate: 71%

Located on the shores of Lake Michigan, Chicago is the biggest city in the midwest, and the third most populous city in America overall. Owing to its size, location, and population density, Chicago offers a wealth of opportunity for small businesses in any industry.

  • Chicago is home to 46,298 unique small businesses
  • Out of those, 9,492 took out small business loans
  • The yearly total small business revenue in Chicago is $122,832,938 (as of 2007)
  • Roughly 29% of Chicago small businesses will close within two years of opening

With over 46,000 small businesses already calling Chicago home, the region has proved to be a prime location for entrepreneurs of any age, race, or gender. This is due in part to the surprising affordability of property in the city, as well as a widely-available talent pool thanks to both the high population and number of academic programs and trade schools in the Chicago area. Even with affordable property and lots of qualified applicants, the cost of running a business in Chicago can add up. In 2012, over 9,000 businesses received small business loans and financing in Chicago alone. If you need a Chicago working capital loan to help with day-to-day operating costs, equipment expenses, or anything else, Credibly can get it to you faster and more easily than traditional bank methods.

Credibly in Chicago

Chicago is a city with a lot of opportunities for entrepreneurs and small business owners just like you – and we know how quickly those opportunities can appear. If you need a quick and easy Chicago small business loan, Credibly is the name to know. Pre-qualify today to find out what our Chicago small business financing programs can do for you.

The Credibly Business Index

The Credibly Business Index is a scoring system that ranks how sustainable a region is for small businesses. We consider several factors, such as number of businesses in the city, overall business revenue, and two-year business survival rates as reported by the U.S. Small Business Administration.

The Credibly Business Index score given to Chicago is 86 out of a possible 100. This score is generated from data derived from the U.S. Small Business Administration and the United States Census Bureau as of June, 2015, and is subject to change. This Business Loan and Revenue Index is intended for informational purposes only, and may not be applicable to, or predictive of, your particular circumstances.

SOURCES:
U.S. Small Business Administration 2013 Small Business Profiles for States and Territories
United States Census Bureau 2007 Economic Census of the United States