EDWARDSVILLE – Madison County Chairman Alan J. Dunstan today announced the county has joined forces with Justine PETERSEN to create a micro-loan program for small businesses and entrepreneurs in Madison County.
Dunstan appropriately made the announcement during an appearance at an issues forum 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.”
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“We cannot overlook the impact of small businesses for the jobs they create and the impact they have on our local economies,” Dunstan stated. “With the involvement of Justine PETERSEN, the country’s largest micro-lender, the Madison County Micro-loan program will help new and existing small businesses that are unable to secure affordable commercial loans,” Dunstan stated.
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 micro-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 long community advocate in the St. Louis area.
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, 314/533-2290, or visit the organization’s web site at: www.justinepetersen.org.
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