Accelerate Grants for Small Business Funding Increased and Deadline Extended

  • September 27, 2023

The Federal Home Loan Bank of Chicago (FHLBank Chicago) is pleased to announce additional funding to offer more Community First® Accelerate Grants (Accelerate Grants) for Small Business. To meet increased market demand for small business support, we are making $7.5 million available in grant funding and have extended the application deadline to October 20, 2023. 

We recognize grants prove instrumental for small business owners seeking to grow or enhance their operations but lacking access to the capital needed to do so. Accelerate Grants are designed to support a variety of purposes, including purchase or improvement of property, equipment, workforce development, and technology. 

FHLBank Chicago encourages all members to submit one grant application to receive up to $25,000 on behalf of eligible small businesses with which they have had a business relationship for at least 12 months. We plan to announce award recipients in mid-November. 

Contact Us

Please direct all media inquiries to:

Casey Reidy 
Director, Communications

Heather Bockstruck
Assistant Director, Communications