Busey Partners with Peoria Business Owner

 

Small businesses are the backbone of local communities, yet they often face challenges growing their presence. Busey is proud to support the business owners throughout our footprint as they seek economic opportunities for expansion.

The Community First Accelerate Grants for Small Business offered by the Federal Home Loan Bank of Chicago (FHLBank Chicago) provide grant funds, up to $25,000 per business, to support the growth and development of small businesses in members’ communities in Illinois and Wisconsin. Applications are submitted by FHLBank Chicago members on behalf of small businesses with a limit of one application per member.

The holding group operates Rumberger’s Wings & More in Peoria, IL, and was one of 172 businesses to be awarded the grants. In total, the FHLBank Chicago awarded $4.3 million in Accelerate Grants across the two states.

“The Accelerate Grant allows businesses like Rumberger’s to grow without impacting their bottom line. As a result, they’re able to magnify and nurture the positive progress in the communities they serve,” said Sandy DeMond, Senior Vice President - Director of Community Banking for Busey. “For Tremayne, his business will be able to expand their ongoing efforts to help others in the Peoria area. He has already helped provide free meals at local events, and his outreach initiatives have resulted in the recruitment and employment of over 100 employees since the restaurant opened. Tremayne’s philanthropic efforts are commendable and reflect his company’s commitment to giving back to the region.”

Katie Naftzger, Community Investment Officer with the FHLBank Chicago, notes that “small businesses in our members’ communities provide valuable products and services that contribute to local economies.”

“Accelerate Grants provide an opportunity for our members to strengthen their partnerships with local small businesses, thereby supporting economic growth and job opportunities and strengthening the fabric of the rural, urban and small town communities served by our members,” said Naftzger.

In addition to helping expand Rumberger’s kitchen, the grant will be utilized to purchase, repair and upgrade essential equipment to further improve the overall customer experience. A Peoria native, Tremayne is a second-generation restaurant owner.

“My father taught me everything. From the age of eight years old, I have had a passion for cooking, and I thank him for that,” he says. “I also understand the importance of giving back to the community. When I mentor young entrepreneurs, I encourage them to treat every endeavor they take on as their own. When you care as if it belongs to you, you develop a work ethic that will forever contribute to your successes.”

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