Polsky Exchange and Huntington Bank Help Secure Funding for South Side Entrepreneurs

Jay Harris, CEO and Founder of Drinks On Me Chicago, presents at the event.

An initiative led by the Polsky Exchange helped South Side entrepreneurs secure critical funding by preparing them to meet the specific criteria banks use to evaluate small business loan applications.

Earlier this summer, five Polsky Exchange Small Business Development Center (SBDC) clients presented their businesses to Huntington Bank as part of an event designed to give entrepreneurs a clearer pathway to capital. Each founder used a consistent set of materials developed through a thorough advising process with Vince Beachum, director of the Polsky Exchange’s SBDC.

Each founder was able to present their business plans to several members of Huntington Bank. Following the presentations, they had a one-on-one meeting with a bank representative to go deeper into the business.

Two of the businesses that attended the event received funding from Huntington Bank, while a third received funding using the same materials with a different bank:

• Drinks On Me secured a loan from Huntington Bank.
• The L3 Agency secured a loan from Huntington Bank.
• Tatis Floral secured a $176,000 loan from Greenwood Archer Capital using the same materials prepared for this event.

“We’re very grateful to have been a part of this event,” said Chad Sultan, district manager, Huntington Bank. “Through events like this, we’re able to work towards our purpose of helping businesses thrive. We want to help local businesses in our community take off and get to the next level.”

Larvetta Loftin, founder and CEO of The L3 Agency — a full-service influencer marketing and communications firm — said the experience has helped her business take a significant step forward:

“As a purpose-driven agency, we believe meaningful growth is rooted in impact, not just numbers. Our journey so far has been fueled by passion, resilience, and an unwavering commitment to creating real change for our community and our clients, while also sharing impactful stories of business owners through our signature podcast, Black Businesses Matter,” said Loftin. “With the support of the Polsky Center and its capital partner, Huntington Bank, The L3 Agency will amplify its reach, deepen its impact, and continue building an agency where purpose and progress go hand in hand. Together, we can turn vision into action with this funding and make a difference that lasts.”

Ericka White, state director of the Illinois Small Business Development Center, also attended the event. She sees events like this as a great model to replicate across the state.

“I think it’s a great opportunity that I would like to see as a model across the state,” said White. “There are bankers that don’t know about our program and what we provide. By replicating this event, we’ll have more banks knowing about our services – and they’ll know they have clients coming to them with a sound business plan.”