Chicago Food Bank Braces For Increased Demand
Chicago banks are reporting an increase in loan demands from business customers. This growth occurs despite concerns regarding long-term economic impacts from unstable geopolitical situations. The ongoing war in Iran is specifically noted for upending global shipping and threatening to inflate energy costs. Financial institutions are showing strong results as businesses proceed with growth plans despite macroeconomic shocks. The Chicago food bank, which serves 570,000 residents and provides 93 million meals, is preparing for a surge in demand. The organization reported that its meal numbers have doubled since before the pandemic. A 100,000 visit increase was observed month-over-month after SNAP allotments ended in March 2023. Officials are now bracing for further increases as tens of thousands of people may lose SNAP benefits due to new work and volunteer rules.
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Sources · 7 independent
WBBM Newsradio 780
“Chicago banks are reportedly rising as demands for loans by business customers are growing, despite concerns about how an unstable geopolitical situation might impact the economy”
WBBM Newsradio 780
“The food bank serves about 570,000 residents and serves about 93 million meals. Those numbers have doubled since before the pandemic.”
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