Community First^® Capacity-Building Grants

To be eligible for the Capacity-Building Grant Program, an applicant must be a nonprofit, non-depository lender with a primary mission of community development and have an affordable housing, economic development, and/or small business loan program in FHLBank Chicago's district of Illinois and Wisconsin. This may include regional and national organizations with a lending footprint in the district. 

Examples of eligible applicants include:

• Community Development Financial Institutions (CDFIs)
• Community Development Loan Funds (CDLFs)
• Community Development Corporations (CDCs)

Eligible uses of grant funds include:

• New program or product development
• Market research to expand existing programs
• Marketing and branding
• Professional development of staff and/or board(s)
• Creation or improvement of lending policies and procedures
• Creation or expansion of strategic plan
• Enhancements to information technology and systems
• Improvements to lending, financial, and/or mission-related reporting 

Ineligible uses of grant funds include:

• Salaries, wages, stipends, and/or benefits for new or existing interns and/or staff
• Lending capital
• Loan loss reserves
• Administrative overhead
• Litigation costs/expenses
• Lobbying

Organizations that wish to apply for the Capacity-Building Grant Program need to complete and submit an application in partnership with an FHLBank Chicago member (a list of members can be found on our website under Membership). Applicants must also submit supplemental materials as detailed in the application.

FHLBank Chicago will holistically review each application to determine which applicants best meet the objectives of the Capacity-Building Grant Program. Specific evaluation factors are detailed in the application each program year.

• Grant recipients incur expenses and request disbursement of grant funds through the FHLBank Chicago member through which they partnered on the application.
• Incurred expenses must be supported with documentation, such as receipts, invoices, paystubs etc.
• After the FHLBank Chicago member disburses grant funds, the member then requests reimbursement from FHLBank Chicago.
• FHLBank Chicago reimburses the FHLBank Chicago member through that member’s Daily Investment Deposit (DID) account.

• Grant recipients are required to submit impact reports post-award.
• Reporting requirements include, at a minimum, a narrative describing progress and outcomes in addition to audited financial statements. 

Questions related to the Capacity-Building Grant Program can be directed to FHLBank Chicago Community Investment at 312-565-5824 or ci@fhlbc.com.