The funds will support affordable housing and economic development in underserved communities
DALLAS, August 22, 2024–(BUSINESS WIRE)–The Federal Home Loan Bank of Dallas (FHLB Dallas) Capacity Building and Growth Grant (CBGG) program has awarded nearly $3.4 million in grants to 14 non-deposit-taking community development financial institutions (CDFIs). The grants are designed to help improve the CDFIs’ ability to fulfill their important role in promoting affordable housing, small businesses and economic development in underserved communities. These grants were awarded either to FHLB Dallas member institutions or through FHLB Dallas to non-member institutions.
The CBGG program offers two types of grants to qualified applicants:
-
A financial grant for future operational or technology improvements, the development of leadership or skills, or the development of new revenue streams
-
A non-monetary expert grant that leverages FHLB Dallas’ resources and technical expertise to assist with projects or initiatives related to small-scale communications or marketing strategies and automation.
“This is a unique opportunity for the Bank to support non-depository CDFIs in our five-state district. We believe these grants will strengthen these non-depository CDFIs for the important work they do,” said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas.
The maximum financial contribution for non-depository member CDFIs is $500,000 and for non-depository non-member CDFIs is $100,000. Non-depository CDFIs are often nonprofit loan funds and depository CDFIs consist of government-regulated institutions such as banks and credit unions.
The 2024 winners are:
Arkansas
Fayetteville
Member: Woodforest National Bank
Award winner: Communities Unlimited Inc.
Cash grant: $92,500
Small stone
Member: Simmons Bank
Award winner: Arkansas Capital Corporation
Cash grant: 41,000 USD
Member: Southern Bancorp Capital Partners
Award winner: Southern Bancorp Capital Partners
Cash grant: $500,000
Mississippi
Gulfport
Member: Renaissance Community Loan Fund
Award winner: Renaissance Community Loan Fund
Cash grant: $500,000
Expertise scholarship: Communication/Marketing strategy
Jackson
Member: Culleywood Capital LLC
Award winner: Culleywood Capital LLC
Cash grant: $500,000
New Mexico
Albuquerque
Member: Southwest Capital Bank
Award winner: Women’s team for economic independence
Cash grant: $52,580
Santa Fe
Member: Homewise Inc.
Award winner: Homewise Inc.
Cash grant: $192,500
Member: Southwest Capital Bank
Award winner: Santa Fe Community Housing Trust
Non-Monetary Expertise Fellowship: Communication/Marketing Strategy and Small-Scale Automation
Texas
Austin
Member: Charles Schwab Bank
Award winner: PeopleFund
Cash grant: $100,000
Brownsville
Member: Rio Grande Valley Multibank
Award winner: Rio Grande Valley Multibank
Cash grant: $246,007
Dallas
Member: Charles Schwab Bank
Award winner: Entre Capital
Cash grant: $100,000
Member: Tolleson Private Bank
Award winner: Texas Mezzanine Fund
Cash grant: $100,000
Houston
Member: Unity National Bank
Award winner: Private Leverage
Cash grant: $100,000
Member: Veritex Community Bank
Award winner: TruFund Financial Services Inc.
Expertise scholarship: Communication/Marketing strategy
McAllen
Member: Affordable Homes of South Texas
Award Winner: Affordable Homes of South Texas
Cash grant: $424,700
San Antonio
Member: LiftFund
Award winner: LiftFund
Cash grant: $450,000
Learn more about the 2024 CBGG grants at fhlb.com/cbgg.
About Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system, which was created by Congress in 1932. FHLB Dallas, with total assets of $126.2 billion as of June 30, 2024, is a member-owned cooperative that supports housing and community development by providing low-cost loans and other lending products to approximately 800 member and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
View original version on businesswire.com: https://www.businesswire.com/news/home/20240822662508/en/
Contacts
Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445
