The Federal Home Loan Bank of Chicago (FHLBank Chicago) is now accepting applications for its Community First Accelerate Grants for Small Business (Accelerate Grants), a new program offering for 2022.
Donor Name: Federal Home Loan Bank of Chicago (FHLBank Chicago)
States: Illinois and Wisconsin
Type of Grant: Grant
Deadline (mm/dd/yyyy): 09/30/2022
Grant Size: not to exceed $25,000
Details:
Accelerate Grants help small businesses in Illinois and Wisconsin grow and develop, creating economic opportunity in the communities FHLBank Chicago members serve.
Funding Information
In 2022, FHLBank Chicago expects to award $750,000 in Accelerate Grants, not to exceed $25,000 per small business.
Eligible Uses of Funds
Small businesses may use Accelerate Grants for the following purposes:
- Purchase or improvement of property
- Machinery, tools, or equipment
- Inventory, materials, or supplies
- Workforce development or training
- Technology
Eligibility Criteria
To qualify, a small business must:
- Be a for-profit entity
- Be headquartered in either Illinois or Wisconsin
- Have annual gross revenue of $1 million or less
For more information, visit Federal Home Loan Bank of Chicago.