Self-Help takes a unique approach to underwriting commercial loans. While we evaluate collateral, credit reports and business growth potential like other lenders, we also look at the borrower's full story and whether the loan fits Self-Help’s mission of creating and protecting ownership and economic opportunity for all. A credit issue might make sense when we understand the borrower's background, and we structure loans with manageable terms because we want borrowers to succeed. This approach works well for small businesses and nonprofits that might not qualify elsewhere but have solid fundamentals.
As an institution, Self-Help is large enough to access grant funding and tax credits that can be leveraged for our commercial lending, but we are small enough to be able to dedicate time to deeply understanding the businesses that reach out to us for financing.
In 2024, Self-Help’s commercial lending team closed 16 loans totaling nearly $14 million to Chicago businesses and nonprofits—part of 103 commercial loans across our geographies. Our borrowers represented diverse business types and wealth-building opportunities, from restaurants and auto parts stores to laundromats and general contractors. Loan purposes ranged from working capital and business expansion to commercial real estate purchases and refinancing high-interest debt. We served everyone from a mother-daughter team buying out restaurant partners to small business owners purchasing adjacent commercial space to expand their operations.