Now known as the Foundation of Little Village, the nonprofit released its first annual report recapping its efforts and ongoing work to deliver economic development in Little Village
CHICAGO, June 10, 2022 /PRNewswire-PRWeb/ -- The Little Village Community Foundation announced that it has changed its name to the Foundation of Little Village.
"The name change to the Foundation of Little Village is an opportunity to strengthen our identity and better align with the programs and services we offer," said Dan Arce, Board President of the Foundation of Little Village. "Under our refreshed identity, the Foundation of Little Village will continue to deliver economic development through our successful, culturally relevant programming and ever-growing business ecosystem."
The Foundation recently released its first annual report titled, "Foundation of Little Village: Delivering Our Promise." The report highlights the organization's accomplishments, which include the creation of Little Village's first-ever micro-granting program—a collaborative effort that disbursed over $745,000 in aid to local entrepreneurs.
During 2020 and 2021, the Foundation of Little Village launched the area's first micro-granting program, delivering much-needed pandemic-era support to local businesses experiencing economic and financial disruptions caused by the COVID-19 pandemic. In total, the micro-granting program awarded more than 255 grants to Little Village entrepreneurs—financial lifelines used to cover business expenses related to payroll, rent, and other critical financial needs during a period of immense uncertainty.
"We are so excited to share the annual report, which serves as a testament to and celebration of the hard work of our team," said Kim Close, Executive Director of the Foundation of Little Village. "Over the past few years, we have worked very hard to provide programs and services to build community wealth and support local entrepreneurs, like launching the first micro-granting program in Little Village which has awarded thousands of dollars directly to neighborhood businesses and provided immediate assistance during the peak of the COVID-19 pandemic."
Though the name has changed, the organization's commitment to enhancing Little Village's socioeconomic vitality has not. From its inception in 2018, the Foundation has served as an entrepreneurial depot, working to catalyze corridor revitalization by connecting business owners to valuable support mechanisms. As before, the Foundation of Little Village will continue full operation of its signature Juntos entrepreneurial programming, professional services, and ongoing projects. Within this economic model, business owners are afforded access to capital and a network of wraparound professional services—essential components of larger-scale corridor revitalization efforts like those evinced by the forthcoming Xquina Incubator and Café.
On May 27, 2022, the Foundation of Little Village presented its annual report to stakeholders during a Bienvenida event held at the organization's new office space on 25th and Trumbull Avenue. You can access the annual report at https://flvchicago.org/programs/annual-report/. For more information on the Foundation of Little Village and its programs and services, visit http://www.flvchicago.org.
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About the Foundation of Little Village
The Foundation of Little Village was founded in August 2018 with a mission to create a socioeconomic impact system for entrepreneurs of color. In this time, the Foundation of Little Village has supported more than 250 local small businesses with culturally relevant educational programming, professional services, workforce training, access to capital, and technical assistance to bridge the digital divide between youth and local businesses. In pursuit of these goals, the Foundation equips local entrepreneurs with access to bilingual, professional programming designed to support and encourage economic growth, educational opportunities, and vibrant wealth creation to more effectively propel the Little Village community forward.
Media Contact
Dan Kowalski, Foundation of Little Village, 1 6306243376, [email protected]
SOURCE Foundation of Little Village
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