The Second Round of the Black & Latino Excellence Investment Summit 2023 Commences this November.

Applications are open to Black and Latino-owned businesses on the South and West Sides of Chicago

CHICAGO, Dec.1, 2022 /World Business Chicago/- -The Black and Latino Excellence Investment Summit by World Business Chicago connects small, Black and Latino-owned businesses on the South and West Sides of Chicago with technical assistance and funding opportunities. Led by the agency’s Community Impact Team, the Black & Latino Excellence Investment Summit is a multi-phased effort that provides counsel, connections to technical assistance, and ultimately, access to capital.

“The Black and Latino Excellence Investment Summit was a game changer in that most Black businesses can’t get connected to decision makers at Chicago area commercial banks to take their loan applications seriously,” said Bruce Montgomery, Founder & CEO of The Entrepreneur Success Program.“ This results in little if any money going to some of our most successful community based businesses that are ready to scale their operations. Through the Investment Summit experience, they get directly connected to at least 3 business lending institutions, giving them a real opportunity to get the funding required to grow and expand.” 

Eligibility requirements

In order to be eligible small businesses must be for-profit, Chicago-based, and meet the following criteria:

1. Operate in the retail, light manufacturing and/or professional services industries;
2. More than $250,000 in annual revenue;
3. Minimum of three years in business; and,
4. Have identified a clear growth and development opportunity that requires capital investment.

Participating in the investment summit helped us develop a plan and have in-depth conversations with multiple banks that will get us funded when we are ready,” said Andre Weaver, owner of Pillars Fashion Club. 

This year’s  program kicks-off in November 2022 and culminates with a celebration May 2023: 

• November-December 2022: Small business intake 
• December 31st, 2022: Application Deadline
• January 2023: Businesses paired with their technical assistance and funding partners 
• January – May 2023: technical assistance and funding process to both prepare businesses to be lending-ready and secure funding commitments
• May 2023: Investment Summit Gala 

There are two main shifts from last year’s inaugural summit. First, the technical assistance and funding timeline will be elongated to ensure businesses have adequate time to learn and grow with their official Summit partners. Second, in-person programming will be increased to allow stronger individual connections and working relationships to be built among businesses, technical assistance and funding partners. 

To apply and learn more, visit https://worldbusinesschicago.com/investment-summit/

About World Business Chicago & its Community Impact Team

World Business Chicago (WBC) serves a critical role in driving inclusive and equitable recovery throughout the city’s 77-neighborhoods. As the city’s economic development agency, World Business Chicago leads business acquisition, workforce and talent, community impact and equity, support of our business community and promotion of Chicago as a leading global city. The WBC Community Impact Team supports equitable economic growth through strategies delineated in Chicago’s Recovery Task Force, including the main initiative, INVEST South/West. The Black & Latino Excellence Investment Summit is designed to be an opportunity for Black and Latino business owners to work alongside the City of Chicago and key partners, participating in collective efforts to revitalize our city’s South and West Side neighborhoods. Visit the summit website for more information worldbusinesschicago.com/investment-summit.