The Federal Home Loan Bank of Dallas has awarded $3.4 million in grants to 14 non-depository community development financial institutions (CDFIs), including three in Arkansas.
The funding is designed to help increase CDFIs’ ability to fulfill their critical role in supporting affordable housing, small businesses and economic development in underserved communities. These awards were made either to FHLB Dallas member institutions or through them to nonmember institutions.
Arkansas institutions receiving funding through the FHLB Dallas Capacity Building and Growth Grant Program are:
Fayetteville
Member: Woodforest National Bank
Awardee: Communities Unlimited Inc.
Monetary Grant: $92,500
Little Rock
Member: Simmons Bank
Awardee: Arkansas Capital Corporation
Monetary Grant: $41,000
Member: Southern Bancorp Capital Partners
Awardee: Southern Bancorp Capital Partners
Monetary Grant: $500,000
“This is a unique way for the Bank to support non-depository CDFIs in our five-state district,” said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas, in a press release. “We believe these grants will strengthen these non-depository CDFIs for the critical work they do.”
For more information about the grants, click here.
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