[River Falls, WI – Oct. 18, 2024]  Lori's Salon and Day Spa in River Falls was awarded a $15,000 grant from the Federal Home Loan Bank of Chicago (FHLBank Chicago) through its Community First® Accelerate Grants for Small Business program. These grants aim to support the growth of small businesses and create economic opportunities within the communities FHLBank Chicago serves.

Lori's Salon and Day Spa has become a staple in River Falls, providing a serene environment where residents can enjoy a wide array of beauty and wellness services, including haircuts, skincare, and massages. The salon is owned by Lori Moran, a local resident with a passion for helping people feel their best. The business is known for its exceptional customer service and commitment to high-quality care, earning it a loyal following in the community.

The Accelerate Grants, made available through FHLBank Chicago's partner institutions like First National Bank of River Falls, are designed to help small businesses in Illinois and Wisconsin thrive. These grants support:

• Property purchases or improvements
• Equipment and tool purchases
• Acquisition of inventory, materials, or supplies
• Workforce training and development
• Technology upgrades

“Small businesses are the backbone of local communities, driving both economic growth and community development,” said Katie Naftzger, Senior Vice President and Community Investment Officer at FHLBank Chicago. “FHLBank Chicago is dedicated to fostering economic opportunities that go beyond housing, ensuring that communities have the resources they need to prosper, including support for the small businesses that call these communities home.”

The nomination for Lori's Salon and Day Spa was submitted by First National Bank of River Falls, which has a strong tradition of supporting local businesses and contributing to the development of the River Falls community.

“Lori has done so much for the River Falls community over the years, and her salon has consistently demonstrated both a positive community impact and strong growth potential,” said Melissa Godden, Vice President of Commercial Loans at First National Bank of River Falls. "This grant program is about supporting local entrepreneurs who bring creativity and energy to our town, and Lori’s Salon perfectly embodies that spirit. We are so proud to be able to support her with this nomination, and we can’t wait to see how her business continues to grow and contribute to our community.”

“Lori’s Salon and Day Spa has been a cornerstone of the River Falls community for 30 years, consistently delivering exceptional service and building strong relationships with its clients," said Matt Russell, Executive Vice President & Chief Credit Officer at First National Bank of River Falls. "Their dedication to quality and the positive impact they’ve had on the community made them a clear choice for this grant. We’re excited to see how this funding will help them continue to grow and serve River Falls for many more years to come.”

For more information on the Accelerate Grants program and how to qualify, visit www.fhlbc.com.

 

About First National Bank of River Falls

First National Bank of River Falls is an independently owned and operated community bank in Western Wisconsin, founded in 1904 with locations in River Falls and Prescott. They are a member of the Independent Community Bankers Association and Wisconsin Bankers Association. First National Bank of River Falls strives to exceed customer expectations with integrity and commitment. Holding all employees to this high standard is why First National Bank of River Falls has made such an impact in its communities. Visit www.fnbrf.com to learn more. ©2024 Member FDIC. Equal Housing Lender.

 

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.