FHLBank Chicago Grant

Small businesses are crucial to fostering innovation and creating jobs in our local communities, yet limited access to funding and resources often stifle their growth. Busey is proud to support small business owners throughout our footprint as they navigate these challenges in order to benefit both the communities we serve and the broader economy.

The Community First Accelerate Grants for Small Business offered by the Federal Home Loan Bank of Chicago (FHLBank Chicago) provide grant funds, up to $30,000 per business, to support the growth and development of small businesses in members’ communities in Illinois and Wisconsin.

As a member bank of the FHLBank Chicago, Busey’s Community Banking team worked closely with Debra T. Thomas—Director/Owner of Debra T. Thomas Learning Center—and Matt and Christina Grana—Owner/President and Owner/Vice President, respectively, of Grand Frame, Inc.—to successfully apply for a grant during the recent round of submissions.

“I’m so excited about the opportunities the Accelerate Grant will unlock for the Debra T. Thomas Learning Center and Grand Frame, Inc.,” said Sandy DeMond, Senior Vice President - Director of Community Banking for Busey. “This grant is designed to provide essential resources that empower small businesses to expand or improve their current operations, which not only helps them create a strong foundation to build upon as they move toward the future, but also puts them in a better position to contribute to the economic vitality of the communities they serve. Busey is proud to help our clients access this opportunity in order to improve both their business and the places they call home.”

The Debra T. Thomas Learning Center is a day care facility in Bloomington, IL, that serves children between six weeks and 12 years old. Grand Frame, Inc., operates out of Arlington Heights, IL, and offers several services for both corporate and residential clients, including but not limited to custom picture framing, photo restoration and digital printing.

Katie Naftzger, Senior Vice President, Community Investment Officer with FHLBank Chicago, notes that “small businesses play an integral role in local communities in driving economic growth, from creating jobs to fostering community development.”

“As a leader in the housing and community development space, FHLBank Chicago recognizes that affordable housing isn’t just about the homes themselves—it’s about ensuring entire communities have what they need to thrive, including economic opportunities for the residents and small businesses who call them home,” she said.
The Debra T. Thomas Learning Center plans to utilize the grant by purchasing new furniture and playground equipment for the children in their facility, while Grand Frame, Inc., used their funds to purchase a new company van.

“Ninety percent of the tuition we receive is subsidized by the State of Illinois, which limits our revenue,” said Thomas. “Being a recipient of this grant will allow us to replace worn and outdated furniture in our classrooms, and also purchase new playground equipment for the children we serve. Ideally, this will increase the quality of the day care center in the eyes of prospective clients, helping us bring in new clients and increase revenue.”  Matt Grana calls the grant “a game changer” for his business.

“2024 marks our 50th year in business, and we have been fortunate to experience major growth over the last eight years—including adding a second store location,” he said. “Along with that growth comes major expenses, and we’ve had to invest so much capital into our business to remain relevant. This grant will allow us to purchase a new cargo van that is more consistent with the high quality product we strive to produce.”

For more than 155 years, Busey has been honored to partner with small businesses throughout our footprint to help ensure their success and growth.