Madison County has joined forces with Justine PETERSEN, the country’s largest micro-lender, to create a micro-loan program for small businesses and entrepreneurs.
Madison County Chairman Alan Dunstan made the announcement during an appearance at an issues forum on Feb. 18, presented by the Southwestern Illinois Chamber of Commerce at the Granite City Housing Authority.
“There is an overall need for capitalization by new and existing small businesses in Madison County, and this program is one way to address that need,” Dunstan said. “We cannot overlook the impact of small businesses for the jobs they create and the impact they have on our local economies.”
The Madison County Micro-Loan Program began with a $200,000 loan from Madison County Community Development to Justine PETERSEN’s Community Development Financial Institution (CDFI) Great Rivers Community Capital.
Justine PETERSEN, a St. Louis-based 501(c)3 company, is the nation’s largest mi cro-lender for the U.S. Small Business Administration. The organization was founded in 1997 to honor the memory and continue the work of Justine M. Petersen, a longtime community advocate in the St. Louis area.
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How to apply for a micro-loan
Small business owners and entrepreneurs interested in obtaining additional information or applying for a small business loan through the Madison County Micro-loan Program should contact Galen Gondolfi, senior loan counselor and chief communications officer at Justine PETERSEN at (314) 533-2290 or visit the organization’s website at www.justinepetersen.org.