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CHICAGO, Sept. 25, 2019 (GLOBE NEWSWIRE) -- First Midwest Bank today announced it is joining forces with the Local Initiatives Support Corporation (LISC) Chicago to increase the availability and accessibility of funding for minority entrepreneurs on the south and west sides of Chicago. First Midwest is providing $1 million to the Entrepreneurs of Color Fund, which LISC will use to provide loans to small business owners in these neighborhoods.
“First Midwest is committed to investing in furthering economic development in the communities in which we live and work,” said Mark Sander, President of First Midwest. “We are proud to partner with LISC to provide capital for the Entrepreneurs of Color Fund, which addresses the specialized financial needs of small business owners on the south and west sides of Chicago and helps these neighborhoods thrive by creating momentum for economic growth and additional employment opportunities.”
“Investment in Chicago neighborhoods has been the hallmark of LISC’s work since our organization was created,” said Meghan Harte, Executive Director, LISC Chicago. “A crucial piece of neighborhood growth is job creation and the investment in small businesses and entrepreneurship. However, in the neighborhoods we serve, access to investment dollars to support local businesses continues to be a challenge. We are excited to partner with First Midwest on this initiative to continue to help grow the Entrepreneurs of Color Fund by creating community wealth and power, which is integral to supporting the communities we serve.”
About First Midwest
First Midwest (NASDAQ: FMBI) is a relationship-focused financial institution and one of the largest independent publicly traded bank holding companies based on assets headquartered in Chicago and the Midwest, with approximately $17.5 billion of assets and $12 billion of assets under management. First Midwest’s principal subsidiary, First Midwest Bank, and other affiliates provide a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services through locations in metropolitan Chicago, southeast Wisconsin, northwest Indiana, central and western Illinois, and eastern Iowa. Visit First Midwest at www.firstmidwest.com.
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Since 1979, LISC has invested $18.6 billion to build or rehab 376,000 affordable homes and apartments and develop 63 million square feet of retail, community and educational space. To learn more, visit www.lisc.org.
|First Midwest:||LISC Chicago:|
|Maurissa Kanter||Ashleigh Wayland|
|SVP, Director of Corporate Communications||Communications Officer|
|(708) 831-7345||(312) 422-9568|