In recognition of Small Business Saturday on Nov. 30, the Federal Home Loan Bank of Chicago (FHLBank Chicago) today announced it has invested over $27 million through its Community First Accelerate Grants for Small Business program and its Community Small Business Advance program throughout 2024. Through these programs, FHLBank Chicago supported more than 700 small businesses throughout Illinois and Wisconsin.
The full list of 2024 grant recipients can be found here. Of the businesses that received grants this year, 56% were minority-owned. These funds aim to increase businesses’ financial stability and provide an immediate boost for small businesses to address targeted priorities such as equipment upgrades, expansions, and new services.
In 2024, FHLBank Chicago through low interest loans and grants contributed $944,000 to small businesses in Madison and the surrounding area, including:
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Peoples Community Bank — Triple Double Logistics, Mount Horeb;
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Capitol Bank — Pearlsnap Machine Works, Madison;
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Capitol Bank — Riley Tavern, Verona;
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Badger Bank — Cash & Olive’s Pub, Cambridge;
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Lake Ridge Bank — Gentle Breeze Honey Inc., Mount Horeb;
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Bank of Sun Prairie — JJ’s Boxing & Wrestling, Sun Prairie;
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Park Bank — LPJD Properties, Madison;
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One Community Bank — Red & White Wine Bar, Waunakee;
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Park Bank — Taft Street, Madison;
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Mound City Bank — Wildflower Rose Family Farm, Mount Horeb;
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Park Bank — LPJD Properties, Madison;
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One Community Bank — Misty River Woodworks, Cottage Grove;
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First Business Bank — Pivotal Health, Middleton;
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Park Bank — Smart Cleaning Solutions, Madison;
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FORTIFI Bank — Paradise Paws Camp & Resort, DeForest;
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Oak Bank — Midwest Gooh Group, Madison; and
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DMB Community Bank — Rude’s Lanes, DeForest.
