Local businesses Sanctuary Studios and Wastyn & Associates were awarded the Community First Accelerate Grants for Small Businesses from the Federal Home Loan Bank Chicago, each receiving $15,000.
These Quad Cities woman-owned businesses were nominated as recipients by Royal Neighbors of America, an insurance company with a mission statement of supporting women and serving communities.
Sanctuary Studios is the only pay-what-you-can studio for movement and meditation in the Quad Cities. Offering yoga classes and sound meditation, it has opened its doors to over 2000 visits since the studio opened in March.
Owner Sarah Stevens said Royal Neighbors of America has long supported her work.
"I think there is something different when an organization says, 'we don't just say that we support women, but we're going to put our money behind it because this is the piece that we miss a lot," Stevens said. "It's good to have a sentiment of support. But because of the economic system in which we operate, it takes an influx of capital for anything to be successful."
The grants are allocated to help the growth of small businesses in Wisconsin and Illinois.
With the grant's help, Sanctuary Studios is able to support a weekly schedule of 19 classes, expanding from the previous 11.
For nonprofit consulting firm Wastyn & Associates, Founder and President Linda Wastyn said the grant money will help train staff and explore the use of Artificial Intelligence tools.
"To learn how to use AI... to figure out how to leverage it to best serve and better our service to our clients will be huge, not just for us, but for all the nonprofit organizations that we ultimately serve," Wastyn said.
In a press release, Senior Director of Social Impact at Royal Neighbors, Amy Jones, said Sanctuary Studios and Wastyn & Associates "align well with Royal Neighbors efforts to insure lives, serve communities, and support women - and they are both doing these things and more with their own missions."
Correction: WVIK quoted Linda Wastyn as Laura Wastyn in a previous version.