CIBC awards $350,000 to affordable housing and small business partners

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Jul 20, 2022, 08:00 ET

CHICAGO, July 20, 2022 /PRNewswire/ - CIBC today announced it has awarded $350,000 to several affordable housing and small business partners. The Bank hosted its annual Affordable Housing and Entrepreneur Training Program awards ceremonies in Chicago, Detroit, Milwaukee and St. Louis to honor and recognize the important role these organizations have played in their communities.

"CIBC is proud to partner with organizations that make our communities stronger through affordable housing initiatives, low-cost mortgage options, financial literacy training, job creation, and access to capital for small businesses in our underserved communities." said Michael G. Capatides, Senior Executive Vice President And Group Head, US Region.

CIBC began awarding its affordable housing partners in 2013. The Bank gives grants – used to provide services such as homebuyer education and certification – to Housing and Urban Development (HUD)-certified counseling agencies that work to make affordable housing accessible in their communities. The 2022 recipients of CIBC's Affordable Housing awards include:

Chicago

Brighton Park Neighborhood Council
Chicago Urban League
Great Lakes Federal Credit Union
Neighborhood Housing Services of Chicago
Northside Community Development
Northwest Side Housing Center
South Suburban Housing Center
Spanish Coalition for Housing
The Resurrection Project
West Cook Homeownership Center
YWCA

Detroit

National Faith Homebuyers
Wayne Metropolitan Community Agency
Southwest Economic Solutions
Jewish Vocational Services

Milwaukee

Housing Resources
United Community Center

St. Louis

Beyond Housing
The Housing Partnership
Urban League of Metropolitan St. Louis

In 2017, CIBC also began recognizing partner organizations that support its Entrepreneur Training Program (ETP), focused on giving entrepreneurs of small business start-ups the skills and training they need to become successful. CIBC's ETP cohorts contribute to the Bank's success in meeting their goals for lending to small, neighborhood businesses. Collectively this year, the following organizations were awarded $150,000:

Chicago

Chicago State University
Greater Southwest Development Corporation
Joseph Business School
Little Village Community Foundation
Mujeres Latinas en Accion
Northwest Side Center
Rogers Park Business Alliance
Sunshine Enterprises
Urban MBA
Waubansee Community College
Women's Business Development Center

Detroit

SWOT
BUILD

Milwaukee

Latino Entrepreneurial Network of SE Wisconsin, Inc.

St. Louis

The Balsa Foundation
Family and Workforce Centers of America
Urban League of Metropolitan St. Louis

Over the past nine years, CIBC has awarded $2.2 million to more than 65 organizations.

"When we work together, we revitalize and strengthen our neighborhoods," said Capatides.

About CIBC

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the US, CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

Private banking is offered by CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect, wholly owned subsidiaries of CIBC. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed. All loans subject to credit approval. The Certified Wealth Strategist® education and designation are administered by Cannon Financial Institute. The CWS® Board of Standards awards credentials to individuals who successfully complete initial and ongoing certification requirements. The Certified Financial Planner Board of Standards Inc. owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the US.

SOURCE CIBC