UChicago’s Polsky Center and Mona partner to connect Chicago small businesses entrepreneurs to $200k in capital and coaching, primarily in the South Side

Lisa Marsh, founder of Ms. P’s Gluten Free and a Mona Entrepreneur.

PRESS RELEASE 

June 2025 // For Immediate Release 

Chicago, IL – Today, the Polsky Center for Entrepreneurship and Innovation at the University of Chicago and mission-driven fintech Mona announced that their new collaboration has connected more than $200,000 of capital to local small businesses, primarily in Chicago’s South Side. 

So far, 23 Chicago small businesses have received low-interest microloans to support their growth. Many of the entrepreneurs are alums of Polsky Center programs that helped them develop business ideas, revenue models, go-to-market strategies, and more. Working closely with the Polsky Center, Mona’s team and matching platform then connected these entrepreneurs to much-needed capital to accelerate their growth.

For Martha and Leecox Omollo, co-founders of Kikwetu Coffee Company in Woodlawn, the funding was a natural next step in scaling their business. Born and raised in Nairobi, Kenya, the Omollos seek to bring communities together across cultures over coffee, ethically sourcing their beans from farmers back home. They have worked closely with the Polsky Center throughout their entrepreneurial journey – as clients of Polsky’s Small Business Development Center (SBDC) and participants in its Financial Fundamentals and Small Business Growth Programs. Mona connected the Omollos to a $12,000 zero-interest loan from one of its partners, the crowdlending platform Kiva. 

“The support provided by [this initiative] was unlike anything we have had anywhere. Throughout the process, it felt like we had someone in our corner that wanted us to win and thrive, cheering us on and lifting us up. We are now able to buy the first set of equipment that will help make our team more efficient,” the couple shared. “We are on a journey to build something that Chicago and Kenya will be proud of for generations to come, and this partnership was a very important part of that journey.” 

Another entrepreneur who secured funding and technical support is Lisa Marsh, founder of Ms. P’s Gluten Free, a healthy snack brand found in stores like Mariano’s and South Town Health Foods. Lisa participated in the E-Commerce Learning Lab held at the Polsky Exchange, which has helped her test new sales channels for her gluten-free granola. Through Mona, Lisa was connected to a $10,500 loan to invest in ingredients and packaging as she expands her products’ reach.

“We are so appreciative to Mona and the Polsky Center for assisting us,” Lisa shared, “We will be fully utilizing the funds to scale into additional retail opportunities.”

Meanwhile, Narineh Gharashor received an $11,000 loan to expand her education venture, WholisticEdu. A National Board-Certified educator and a former Chicago Public Schools principal who wanted to provide support to her colleagues, Gharashor and her team provide online courses to education leaders to help support their overall wellness. “This loan marks a turning point for the leaders we serve, as it will allow them to access the tools needed to foster resilience and wellness within their teams, families, and broader communities,” Gharashor noted.

This initiative is part of Mona’s broader Chicago Access to Capital Initiative, which partners with small business support organizations across the city to connect entrepreneurs to affordable funding. Mona co-founders Andrew Leon Hanna, a professor at the UChicago Booth School of Business, and Anny Dow connected with Isra Omar – who runs the Polsky Center’s Small Business Growth and Small Business Financial Fundamentals programs – and Vince Beachum – head of the Center’s SBDC. 

For the Polsky Center, this work is one piece of a comprehensive effort to help South Side entrepreneurs thrive. As Omar put it, “The Polsky Center is proud to be part of this initiative. Mona’s dedication to serving under-supported entrepreneurs aligns perfectly with our mission. Together with this program, we can continue to provide the financial resources and mentorship needed to drive economic development in the South Side of Chicago.” 

“We’re honored to help lead this partnership, providing support to inspiring small business entrepreneurs who are fueling community, economic growth, and togetherness throughout Chicago, especially in the South Side,” said Hanna. “This is just the beginning, as we continue working to expand capital access by connecting more entrepreneurs across the city to the resources they deserve to grow their businesses.”

This Chicago-born collaboration marks a significant step toward creating more equitable opportunities for all entrepreneurs in the city, regardless of their background or financial status.

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