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Veterans nab business benefits

Chicago business owner Derryl Caldwell credits his status as a veteran for helping his company weather the recession. Caldwell, a reservist with the Army National Guard for 9 years who has owned apparel merchandising company DC Mad Hatter at Navy Pier since 1996, said he gets special attention from the U.S. Small Business Administration. “As […]

GrubHub nabs more growth capital

Watch for online restaurant delivery service GrubHub to continue adding jobs, now that it has raised $11 million in a new round of venture capital from Benchmark Capital in Menlo Park, Calif. The new funding, which brings to about $14 million the total investment capital GrubHub has raised, will allow the company to expand to new […]

Economy slows funding cycle, yet opportunities remain

The moment entrepreneurs accept outside capital, they need a strategy for paying back their investors. Ideally, angel funding leads to venture capital, then private equity, with the process culminating in a profitable sale or initial public offering. Entrepreneur Jai Shekhawat, founder and chief executive of Chicago technology firm Fieldglass, knows a tough economy can slow down […]

SBA loan gives Hyde Park animal clinic new life

When the Hyde Park Animal Clinic was forced to move after losing its longtime home in Harper Court following the mall’s sale to the University of Chicago several years ago, its owner, Dr. Thomas Wake, decided he needed a permanent space for his business. After obtaining tax-increment financing funds from the city to remodel a […]

Micro-loans offered to Evanston businesses

The Evanston Community Development Corp. is offering a limited number of loans to Evanston-based small businesses seeking to improve and expand their operations. “The recession has hurt every business, ECDC Chairman Bill Logan said in a release to announce the initiative. “This new loan fund will help local firms to access the capital they need for […]