The PrivateBank Secures Funding for New West Side Businesses

CHICAGO, Aug. 19, 2013 /PRNewswire/ -- The PrivateBank is proud to celebrate small businesses in its communities and is pleased to announce it has provided financing to four West Side Chicago business owners who recently completed the Bethel New Life Entrepreneurial Training Program.

The Entrepreneurial Training Program is a free 14-week program designed to help entrepreneurs in the start-up stages of developing a business, as well as new business owners whose companies are less than five years old. Late last year, thirty participants were selected from 160 applicants to take part in the inaugural program, which was open to residents from Chicago's west side neighborhoods interested in fueling job creation and development in these communities. The second Entrepreneurial Training Program has just concluded its application process and will start in September.

The PrivateBank operates and manages a microloan fund specifically for program graduates through which they underwrite loans in an effort to support the important role small businesses play in strengthening our communities.

The PrivateBank is proud to partner with Bethel New Life to bring this opportunity to Chicago's west side. Bethel New Life is dedicated to creating opportunities to bring individuals and families out of poverty through education and job creation. Bethel New Life focuses on connecting the Austin, East Garfield Park, West Garfield Park, Humboldt Park and North Lawndale neighborhoods to the broader community.

"Small businesses play such an important role in helping to fuel economic improvement," said Tom Doherty, Head of Business Banking within the Community Banking Group at The PrivateBank. "The PrivateBank is proud to provide funding to help turn the goals of these entrepreneurs into reality and foster community development."

About The PrivateBank
The PrivateBank is a part of PrivateBancorp, Inc., and delivers customized business and personal financial services to middle-market companies, as well as business owners, executives, entrepreneurs and families in all of the markets and communities it serves. As of June 30, 2013, the company had 36 offices in 10 states and $13.5 billion in assets. The company's website is www.theprivatebank.com.

About Bethel New Life
Bethel New Life has been dedicated to revitalizing Chicago's West Side communities since 1979. Bethel's assets-to-opportunity approach has equipped thousands of people and small businesses for success. www.bethelnewlife.org.

SOURCE The PrivateBank