With our 2024 Community First^® Accelerate Grants for Small Business (Accelerate Grants) application round coming to a close on September 30, we want to share how we are partnering with our members across Illinois and Wisconsin to help small businesses overcome financial hurdles and thrive. Take a look at how some of our members are making an impact in their local communities through our Accelerate Grants.

Midwestern Clothing Company in Rochelle, Ill. was awarded a $15,000 grant sponsored by Holcomb Bank to improve their store and enhance their customer experience through updates to the exterior signage and building appearance, expanding their inventory, and upgrading equipment.

In West Bend, Wis., Witte's Vegetable Farm was awarded a $15,000 grant sponsored by Glacier Hills Credit Union. As an integral part of their community, the funds will help Witte’s Vegetable Farm purchase and update their farming equipment and continue to grow high-quality local produce for their close-knit community.

In Decatur, Ill., a $15,000 grant sponsored by Staley Credit Union supported business growth for S1 Tech Services, LLC, a provider of affordable, well-designed, and secure websites to local businesses and organizations.

Peoples State Bank provided a $30,000 grant to Expression Dance Institute, LLC located in Rothschild, Wis. for their studio expansion and remodel, plus an addition of a teen center and safe space for kids to hang out and do homework before, in between, and after classes.

If you are an FHLBank Chicago member and want to help small businesses in your community, we’ve ensured that there are enough funds available for all eligible applicants. You have the flexibility to support your small business partners by applying for a single $30,000 grant or two separate grants of $15,000 each. Small businesses must meet the eligibility requirements below:

• For-profit entities based in Illinois or Wisconsin
• Established under current ownership for at least one year prior to applying
• Annual gross revenue of $1 million or less
• Existing business relationship with a member for at least 12 months
• Operates in a sector contributing to community building

FHLBank Chicago members can reach out to their Sales Director for questions and guidance, or they can log into eBanking from fhlbc.com today to apply—it only takes about 10 minutes to complete the application.