VanWinkle Family Chiropractic in Peshtigo was awarded a $25,000 grant through their partnership with The Stephenson National Bank & Trust (SNBT) on behalf of the Federal Home Loan Bank of Chicago (FHLBank Chicago) through its Community First® Accelerate Grants for Small Business (Accelerate Grants).
“We truly value the partnerships we have with our customers, so we couldn’t be more thrilled that someone as special as Dr. Carrie and her team received this grant,” said Aric Chaltry, SNBT business banker. “It will make a huge impact on their clinic allowing them to add additional services and equipment. Plus, it is an honor for the entire team at SNBT to have this money invested back into the community.”
Small businesses are facing challenges with growing or enhancing their operations due to surging borrowing costs in a high-interest rate environment. In response to this need, FHLBank Chicago awarded Accelerate Grants for a second year to support a variety of purposes, including purchase or improvement of property, equipment, workforce development, and technology. FHLBank Chicago member banks, credit unions, insurance companies, and community development financial institutions submitted grant applications on behalf of eligible small businesses with which they have had a business relationship for at least 12 months.
FHLBank Chicago awarded $4.3 million in total grants to 172 deserving businesses to provide economic and community development throughout Illinois and Wisconsin — more than quadrupling their investment in Accelerate Grants year over year.
“Small businesses in our members’ communities provide valuable products and services that contribute to local economies,” said Katie Naftzger, community investment officer, FHLBank Chicago. “Accelerate Grants provide an opportunity for our members to strengthen their partnerships with local small businesses, thereby supporting economic growth and job opportunities and strengthening the fabric of the rural, urban, and small town communities served by our members.”