SAN ANTONIO–(BUSINESS WIRE)–Jefferson Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded a $22,000 grant to the Southside First Economic Development Council of San Antonio.
Jefferson Bank and FHLB Dallas awarded $22,000 in Partnership Grant Program funds to benefit San Antonio’s South Side neighborhood.
The Partnership Grant Program (PGP) funds will help pay for Southside First’s signature small business capacity-building programs to strengthen local businesses and build the economic power of the communities in the South Side of San Antonio, Texas.
“Momentum is building in the Southern Sector of San Antonio,” said Judith Canales, executive director of Southside First. “But the community also faces economic challenges that can impede the prosperity of residents and local businesses. We greatly appreciate this grant from Jefferson Bank because it will help us continue our training programs that provide local business owners the skills they need to grow and prosper.”
“We are proud to join the Federal Home Loan Bank of Dallas in supporting the efforts of Southside First to strengthen the local businesses that are the backbone of San Antonio’s South Side,” said Hazel Davis, vice president and compliance and community development officer of Jefferson Bank. “It’s important work, and Southside First is striving every day to strengthen existing small businesses and attract new ones.”
Through the PGP program, FHLB Dallas member institutions contribute from $500 to $4,000 to a community-based organization, and FHLB Dallas matches at a 3:1 ratio. Grants are awarded annually through FHLB Dallas’ member institutions via a lottery system. In 2019, FHLB Dallas has awarded $300,000 in PGP funds that were combined with $142,500 contributed by 25 FHLB Dallas member banks for a total of $442,500 in grants.
“At FHLB Dallas, we see every day how contributions to the economic viability of communities are funding real progress,” said Greg Hettrick, first vice president and director of Community Investment for FHLB Dallas. “We are pleased to support the great work of Southside First by matching the original Jefferson Bank funding and bringing the total grant to $22,000.”