Federal Home Loan Bank of Chicago (FHLBank Chicago) recently awarded Moody Blues Jean Boutique of New Lenox $15,000 through the Community First Accelerate Grants for Small Business program.
FHLBank Chicago offers grants of up to $30,000 to eligible small businesses to promote economic opportunity in the communities it serves.
Through FHLBank Chicago member institutions, such as First Bank of Manhattan and New Lenox, Accelerate Grants helps small businesses grow and develop in Illinois and Wisconsin. All grantees are small businesses making a difference in their communities, and funds are allocated for the following purposes:
“Moody Blues has operated its women’s clothing store in New Lenox for over 10 years,” said David Zhang, executive vice president of First Bank of Manhattan and New Lenox, in the press release. “We were pleased to sponsor this grant to help a small business in our community in such a meaningful way. Kaherissa is a hardworking and passionate small business owner and we were pleased to be able to facilitate these funds for her business.”
Moody Blues, a jeans maker, will use the funds to increase inventory in preparation for the busy fall and winter retail season.
Since denim is Moody Blues' largest inventory expense, the grant will allow the store to stock up on denim items as well as tops, accessories, gifts and stocking stuffers ahead of the holiday season.
“A well-planned holiday season with a full inventory will set us up for success and absolutely boost profits for our small business,” said Kahersa Coldwater, owner of Moody Blues Jean Boutique, in the statement.
Moody Blues Jean Boutique is located at 1844 E. Lincoln Highway in New Lenox. For more information, call 815-462-4144 or visit moodybluesboutique.com.
For more information about Accelerate Scholarships and eligibility, visit fhlbc.com.
For more information about First Bank of Manhattan and New Lenox, visit fnbmanhattan.com.
We welcome news about business developments in our communities. We appreciate hearing about local businesses coming and going, new hours, expansions, and accomplishments in the Joliet area. If you have a tip to share with Eyes on Enterprise, email news@theherald-news.com.
