Federal Home Loan Bank of Chicago

09/25/2024 | Press release | Distributed by Public on 09/25/2024 06:50

Community First Accelerate Grants: Small Business Stories From Around the District - Part Two

Our 2024 Community First® Accelerate Grants for Small Business application round closes on September 30, 2024, and we want to share a second round of stories highlighting how our members are helping small businesses overcome financial hurdles and thrive. Read about how some of our members are making an impact in their local communities through our Accelerate Grants.

In Wausau, Wis., Forward Beverage Co. was awarded a $15,000 grant sponsored by Incredible Bank. The grant will enable Forward beverage Co. to purchase new equipment, expand their local hiring efforts, and drive continued growth in their community.

National Bank of Commerce awarded a $25,000 grant to RoyDan Rentals in Superior, Wis. to develop their commercial building and help a current tenant, Encouragement Clinic, fulfill their mission to address mental health needs in their region.

Byline Bank awarded $15,000 grants to two local small businesses - Mack's Bike and Goods located in Evanston, Ill. and Taqueria La Placita de Isabel located in the McKinley Park neighborhood of Chicago. Mack's Bike and Goods, a full-service bicycle shop and community meeting venue, plans to use the grant to fund the installation of a new roof. Taqueria La Placita de Isabel, a restaurant that is a staple gathering spot for school-age children and families, will use the grant to purchase a cooler for perishable food items, add seating and outdoor signage, and hire an additional part-time employee.

Pivotal Health in Madison, Wis. was awarded a $15,000 grant sponsored by First Business Bank, who also provided an additional $1,500 match. Pivotal Health is a tech-driven provider of urgent care and primary care house calls who will use the funds to improve their inventory, materials, and technology to fuel growth.

If you are an FHLBank Chicago member and want to help small businesses in your community, there is still time to apply for an Accelerate Grant. 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. The application round is open until September 30, 2024.

For more Accelerate Grant small business stories, read our first round-up published on September 16.