Lily of the Valley Receives Federal Home Loan Bank Community First® Accelerate Grant Through Partnership with Waumandee State Bank
Pictured (left to right): Sherry Kelly, owner of Lily of the Valley, Leah Jacobs, VP/Branch Manager for Waumandee State Bank’s Blair office.
Recently, the Federal Home Loan Bank of Chicago (FHLBank Chicago) awarded Lily of the Valley a grant of $15,000 through their partnership with Waumandee State Bank. FHLBank Chicago offers grants of up to $30,000 to eligible small businesses as part of its Community First® Accelerate program. Grants from this program help small businesses throughout Illinois and Wisconsin grow and advance their economic opportunities.
Lily of the Valley is a boutique gift shop located just outside Blair. The store sells a wide variety of items, including floral arrangements, home décor, crafts, apparel, jewelry, and wine. The shop is owned and operated by Sherry Kelly and her husband Justin. Kelly named the store after her grandmother’s favorite flower to honor her memory. In keeping with this spirit, she works very hard to make sure Lily of the Valley is a wonderful local place for people to buy gifts for their friends and loved ones. Kelly explained that this grant will help her make a much-needed addition to her shop.
“Plans are underway for a storage shed and advertising. The extra storage space is necessary for inventory needs and better management of my supplies. Having the space will allow me to better serve my customers by having the right inventory at the right time,” Kelly said.
Recipients of this grant are specifically chosen because they’ve made a difference in their communities and the funds are meant to help them continue to thrive.
“In these slower economic times, this was very positive news to help me expand. I am very grateful to Waumandee State Bank,” Kelly said.
Waumandee State Bank President Todd Pronschinske explained that the FHLB grant program is an excellent way for the bank to give back. By giving local customers funds to better their business, they can continue to grow and impact their communities in positive ways.
“We use Waumandee State Bank for all of our banking needs and consider them neighbors to our community,” Kelly said.
Since 2022, Waumandee State Bank has helped five different local businesses successfully apply for Community First Accelerate grants, resulting in a total of over $100,000 in grant funding awarded to recipients.
“Small businesses play an integral role in local communities in driving economic growth, from creating jobs to fostering community development,” said Katie Naftzger, Senior Vice President and Community Investment Officer, FHLBank Chicago.
For more information on Accelerate Grants and eligibility, visit www.fhlbc.com.
