CHICAGO, Oct. 3, 2017 /PRNewswire/ -- CIBC (TSX: CM) (NYSE: CM) announced today that it is the official banking partner for 36Squared, the small business incubator at 3636 S. Iron St. in Chicago, and will offer its Entrepreneur Loan Program to start-up and early stage small businesses in the area through a business development office in the facility.
"We are excited to work with CIBC to help provide important, affordable financing solutions to the artisans, professionals and tech start-ups in our facility," said Andrew Fogaty, Director, 36Squared Business Incubator. "We created 36Squared to give area entrepreneurs access to safe, inexpensive space to get started, grow and expand their businesses. Having a strong banking choice for our entrepreneurs was critical to our overall vision and we are pleased to have CIBC fill this role."
The CIBC Bank USA Community Development Team offers its Entrepreneur Loan Program to start-up and early stage small businesses looking to create job opportunities and economic stability in underserved communities in Chicago, Detroit, Milwaukee and St. Louis. Loans of up to $10,000 for start-ups and up to $30,000 for businesses in operation for at least 12 month are offered. Additionally, CIBC works with a variety of U.S. organizations to offer entrepreneurial training programs to ensure the business owners have the foundation needed to succeed.
"CIBC and 36Squared share a commitment to creating opportunities that allow small businesses to succeed," said President, Community and Digital Banking, CIBC US Region. "Having one of our Community Development team members in the building allows us to build important relationships with area entrepreneurs who can tap our experience and expertise to help their businesses thrive."
CIBC strives to build trusting and enduring relationships by putting our clients at the center of all we do. Through CIBC Bank USA, we offer tailored commercial, wealth management, personal, and small business financial solutions. CIBC is a 150-year-old Toronto-based, global financial institution with our US headquarters in Chicago. Visit us at cibc.com/US.
SOURCE CIBC Bank USA