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.