Funds sponsored by Security Savings Bank supports small business in the Monmouth community.
Recently, the Federal Home Loan Bank of Chicago (FHLBank Chicago) awarded Cedar Creek Kennels a grant of $30,000 through its Community First® Accelerate Grants for Small Business program. FHLBank Chicago offers grants of up to $30,000 to eligible small businesses to advance economic opportunity in the communities it serves.
Cedar Creek Kennels plans to use the funds to purchase additional dogs. “We’re utilizing the funds to purchase K9 dogs for training,” said Matt Greenlief, Director of Canine Training and Operations, Cedar Creek Kennels. “[These dogs are] to be trained and sold to law enforcement agencies across the United States.”
Through FHLBank Chicago’s member institutions, like Security Savings Bank, Accelerate Grants assist the growth and development of small businesses in Illinois and Wisconsin. All grant recipients are small businesses that make a difference in their community, and funds are intended for the following purposes:
- The purchase or improvement of property
- The purchase of machinery, tools or equipment
- The purchase of inventory, materials, or supplies
- Workforce development or training
- New or upgraded technology
“Small businesses play an integral role in local communities in driving economic growth, from creating jobs to fostering community development,” said Katie Naftzger, Senior Vice President, Community Investment Officer, FHLBank Chicago. “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.”
The grant was sponsored by Security Savings Bank, a local financial institution in Monmouth and Stronghurst, IL.
“Security Savings Bank values our membership with FHLB Chicago, who not only provides liquidity resources to us as a financial institution, but also assists in offering our customers resources for affordable home ownership and small business development,” said Brad Ray, President/CEO, Security Savings Bank. “Cedar Creek Kennels, LLC was selected as our Community First Accelerate Grant applicant due to their unique business of training Service K9’s that will be used for law enforcement or disabled first responder – military veteran wellness. In this regard, their business not only provides positive contribution to our local community, but the future home communities of these amazing dogs.” For more information on Accelerate Grants and eligibility, visit www.fhlbc.com.
About Security Savings Bank
Security Savings Bank is a local financial institution in Monmouth & Stronghurst, IL. We provide a variety of banking products and services to individuals and businesses. Our customers and community are cornerstones of our bank’s mission. At Security Savings Bank, we are Part of your Community, part of your life.
About the Federal Home Loan Bank of Chicago
FHLBank Chicago is a regional bank in the Federal Home Loan Bank System. FHLBanks are government-sponsored enterprises created by Congress to ensure access to low-cost funding for their member financial institutions, with a focus on providing solutions that support the housing and community development needs of members’ customers. FHLBank Chicago is a self-capitalizing cooperative, owned by its Illinois and Wisconsin members, including commercial banks, credit unions, insurance companies, savings institutions and community development financial institutions. To learn more about FHLBank Chicago, please visit fhlbc.com.
“Community First” is a registered trademark of the Federal Home Loan Bank of Chicago.
***Courtesy of Security Savings Bank***
