Easy Small Business Loans in Chicago. Apply for a business loan in Chicago with AdvancePoint Capital.To form a corporation, a business owner must establish a business name and register with their state government. First Union Lending, our loan agency serving Chicago, has funded many businesses in the area. Fill out our online application and we can discuss your options! Grow your business, grow your community with an SBA loan through a Chicago-area credit union that invests in you. Before you go ahead and take out a Chicago business loan, choose a business structure, such as a limited liability company, sole proprietorship, or partnership. Advantage Illinois provides low interest loans to small businesses in Illinois for start-up costs, working capital, equipment and inventory.