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Federal Home Loan Bank of Chicago Awards $15,000 Grant to A&B Garage LLC in Ladd

A& B Garage LLC in Ladd Receives $15,000 Grant from Federal Home Loan Bank of Chicago

In a boost to small businesses in the Ladd community, the Federal Home Loan Bank of Chicago has awarded A& B Garage LLC a grant of $15,000 through its Community First Accelerate Grants for Small Business program. This grant is part of FHLBank Chicago’s initiative to support economic opportunity in the areas it serves.

Owners Brandy and Andrew Groleau expressed their gratitude for being chosen as grant recipients, stating that the funds will be used for building improvements and equipment purchases. These improvements will not only enhance the appearance of their shop but also create a more comfortable environment for community events and their employees.

Through partnerships with member institutions like North Central Bank, FHLBank Chicago aims to promote the growth and development of small businesses in Illinois and Wisconsin. The accelerate grants are designed to assist small businesses in various ways, including property improvements, equipment purchases, workforce development, and technology upgrades.

Katie Naftzger, senior vice president and community investment officer at FHLBank Chicago, emphasized the importance of small businesses in driving economic growth and community development. She highlighted the role of affordable housing in supporting entire communities and ensuring economic opportunities for residents and businesses.

Deb Schultz, Vice President of North Central Bank, expressed excitement for A& B Garage’s grant award, recognizing the business’s significant contributions to the local community. This grant will not only benefit A& B Garage but also contribute to the overall economic vitality of Ladd and its residents.