Business Start-Up Training program is designed to provide expert guidance, training and support to minimize risk and maximize business launch success while providing access to an exclusive micro-loan fund post completion for individuals who live in and start their businesses in designated communities primarily on the West Side of Chicago. Since inception in 2012 this program has served 300 businesses.

Business Start-Up is a 10 week business training program comprised of specialized workshops, trainings and resources facilitated in conjunction with the Illinois Small Business Development Center at West Side Forward.

This entrepreneurship training program is for serious entrepreneurs who:

• Have identified the area of business they want to pursue.
• Currently operate an informal business now seeking to become licensed and legally structured.
• Have been in business less than five seeking to expand or standardize their operations.
• Will commit to starting or expanding their business within 6 months of program completion.
• Will develop a plan to create new jobs in the community where their business is located.

This program is geared toward for-profit enterprises and entrepreneurs who want to start a new business, owners of informally run businesses who want to become licensed and legally structured, and owners of existing businesses less than five years old that want to expand or standardize their business operations. Entrepreneurs selected for this highly competitive program participate in 12 weeks of sessions on business plans, marketing, financing, accounting, risk management, legal issues, and more, followed by a year of personal mentoring from a business leader. Qualified participants are also eligible for low-interest loans up to $10,000 for a start-up business and $30,000 for an existing business from CIBC Bank upon graduation.

Special consideration is given to applicants that reside or seek to operate their business on the West Side of Chicago, have businesses in the manufacturing industry.

• Final application deadline – August 21, 2020
• Individual Business Case Presentation - August 24-28, 2020
• Program Acceptance Notification Begins - September 1-4, 2020
• First Class Session and Orientation – September 15, 2020

Applications are accepted electronically only. Application process includes:

• Signed release form for performing a credit check (soft pull)

• Copy of a valid driver’s license or state identification

• Proof of current address on above ID or recent utility bill

• Copy of GED, transcripts or diploma from highest level of education completed, if possible.

• Business Case presentation (5-7 minute presentation)

To enroll, applicants must meet a specific set of criteria. The criteria outlined below are the starting point for screening, but West Side Forward reserves the right to adjust these criteria as we determine the demand and capacity of the students to meet these criteria. They are as follows:

• Applicants will designate in their application whether they are a start-up business (one year or less) or an emerging business (more than one year to 5 years old). Businesses that have been registered for more than 5 years old will not be eligible to participate
• Primary consideration will be given to applicants that intend to start or expand for-profit businesses, while secondary consideration will be reserved for entities that may operate on a not-for-profit model.
• Have a credit check with a score of 500 or better. The threshold to receive a micro-loan on completion of the class from CIBC will normally require a score of at least 625.
• Primary consideration will be given to Chicago west side residents that also have businesses or specific plans to locate their business office within the designated communities of Austin, Humboldt Park, West Garfield Park, East Garfield Park, North Lawndale, and South Lawndale.
• These home address and/or intended business location will be one of these ten zip codes: 60608, 60612, 60622, 60623, 60624, 60639, 60644, 60647, 60651, and 60707. Secondary consideration may be given to those from other nearby geographic locations or businesses that have potential to positively impact a low to moderate income community.
• Have at least a high school diploma or GED
• Have a valid driver’s license or state identification
• Proof of current address on above ID or recent utility bill

Selected applicants will be required to present their business idea in 5-7 minute presentation for our Make Your Case panels. During the presentation you will be expected to present your business idea and make your case for why your business is viable or posed for growth, and explain how your participation in the class will help your business reach that next level.

• Attend and participate in 80% of class sessions includes 2 presentation sessions
• Must present final business case presentation
• Submit final business plan within established guidelines with financial projections
• Meet with the instructor(s) at least three times for individual business counseling sessions during the cohort.
• Upon successful completion of the program students receive a certificate of completion
• Eligibility for CIBC ETP Loan Fund

• Eligible for consideration of low-interest loans up to $10,000 for a start-up business and $30,000 for an existing business from CIBC Bank.
• Personal mentoring from a business leader for 12 months.
• Become members of the alumni network entering into a larger entrepreneurial support network in addition to continual access to West Side Forward resources, workshops and Small Business Development Center guidance.

Students that attend and participate in at least 10 of the 13 sessions (which include 10 training and 2 presentation session), write an acceptable business plan with financial projections, and complete a presentation will be eligible to receive a certificate of completion and consideration for a micro-loan.

Class topics (tentative order) for the 12 week session include:
Week 1 Establishing Unique Value Proposition and Capital Access Readiness

Week 2 Mission and Vision Mapping

Week 3 Market Industry Research and Target Market Identification

Week 4 Operational Strategy

Week 5 Business Finance Fundamentals I

Week 6 Business Finance Fundamentals II

Week 7 Marketing and Branding Strategy

Week 8 Legal Structure and Insurance

Week 9 Revenue and Sales Strategy

Week 10 Final Pitch Presentation