The Community First Capacity-Building Grant Program fills a gap in funding for nonprofit lenders, providing them with operational support that can otherwise be hard to find, giving them the opportunity to expand their capacity, and increasing their impact on affordable housing and economic development in Illinois and Wisconsin. Through our member institutions, we offer grants of $10,000 to $50,000 to help qualifying nonprofit community development loan funds (CDLFs), community development financial institutions (CDFIs), and community development corporations (CDCs) strengthen their financial position, operational efficiency, and/or human capital.
These grants are an opportunity for our members to increase their support of nonprofit lending institutions working in their communities and for these organizations to create or build on partnerships with our members.
Capacity-Building Grant Program applications are accepted annually. The Federal Home Loan Bank of Chicago (FHLBank Chicago) expects to open 2019 applications in March.