Deadline for the Targeted Impact Fund Extended to November

  • September 23, 2020

Please Note: This offering closed on November 10, 2020 and is no longer available.

We have extended the deadline for the Targeted Impact Fund through Tuesday, November 10, 2020, to provide our members with the maximum amount of time to provide relief grants to beneficiaries in Illinois or Wisconsin.

Every member of Federal Home Loan Bank of Chicago (FHLBank Chicago) can access up to $20,000 in Targeted Impact Fund grants to provide direct support to those most impacted by the COVID-19 crisis as well as organizations that promote equity and opportunity for communities of color. The Targeted Impact Fund is distinct from the COVID-19 Relief Program. Members that participated in the COVID-19 Relief Program are eligible for additional grant funding through the Targeted Impact Fund.

Beneficiaries must align with one or more of the below four program priorities: 

  • Support for Minority Business Enterprises (MBEs) and/or Women's Business Enterprises (WBEs)
    • Eligible beneficiaries include, but are not limited to: restaurants, retail, and professional services with over 50% minority or female ownership
  • Advancement of Black and Latino Communities 
    • Eligible beneficiaries include organizations that provide services in Black and Latino communities or directly promote racial justice, such as: Boys and Girls Club, YMCA, Maydm, Nehemiah Center for Urban Leadership Development, Urban League, NAACP, and My Block, My Hood, My City
  • Empowerment services for populations hardest hit by COVID-19 
    • Eligible beneficiaries include, but are not limited to: Community centers, senior centers, food pantries, Meals on Wheels, and Salvation Army
  • Support for affordable housing sustainability 
    • Eligible beneficiaries include, but are not limited to: Housing authorities, Habitat for Humanity affiliates, and homeless shelters   


Members may access a base grant amount of up to $15,000. To maximize impact, members will receive up to $5,000 in additional funds for committing to match some or all of the base grant dollars. Members are not required to provide matching funds to participate. The last day to submit an application for the Targeted Impact Fund is Tuesday, November 10, 2020 by 3:00 p.m. CST.

Visit our COVID-19 Resource Center to access an FAQ, the fund application, additional information on qualifying beneficiaries, and other resources to help you leverage the fund.

For questions, please reach out to me or email

Contact Us

Please direct all media inquiries to:

Casey Reidy 
Director, Communications

Heather Bockstruck
Assistant Director, Communications