MB Grant Alternative Program for Foundations
The MB Grant Alternative Program for Foundations (MB GAP) is an innovative banking solution that helps charitable foundations expand their financial impact while fulfilling their philanthropic missions.
We help foundations set up and fund certificate of deposits (CDs) at MB, which creates collateralized loan pools available to grantees. MB then makes loans to qualified nonprofit borrowers using CD collateral. Nonprofits benefit by receiving affordably priced loans, and the foundations benefit by using their cash deposits for financial return and mission purpose.
To learn more about MB GAP for Foundations and other affordable, high-quality banking products and services for nonprofits, please contact:
Vice President, Commercial and Institutional Banking
Vice President, Community Development Corporation
MB Financial Bank is a partner of the John D. and Catherine T. MacArthur Foundation’s Arts & Culture Loan Fund. This fund is open to small- and medium-sized arts and culture organizations that are grantees of the MacArthur Foundation, or the MacArthur funds at the Prince Charitable Trusts and the Richard H. Driehaus Foundation. Eligible organizations will have annual operating budgets between $250,000 and $3 million.
For information on how to apply for a loan through the MacArthur Foundation’s Arts & Culture Loan Fund, please contact Executive Service Corps of Chicago www.esc-chicago.org.
Applicants should not contact MB Financial Bank or the MacArthur Foundation directly for loans through this program.
Get in touch
Call us at 1.888.i bank mb (1.888.422.6562)
Monday - Saturday: 7 a.m. to 11 p.m.
Sunday: 9 a.m. to 5 p.m.