Funds Will Offset Operational and Administrative Charges For Austin-Based Nonprofit
AUSTIN, Texas–( COMPANY WIRE )–Brazos Valley Community developing Corp. (Brazos Valley CDC) together with Federal mortgage loan Bank of Dallas (FHLB Dallas) have actually granted a $6,000 Partnership give Program (PGP) honor to Texas Community Capital (TCC).
PGP funds assist qualified nonprofit businesses fund a number of functional and administrative tasks which can be critical to serving their communities.
TCC provides specific loan and investment products that promote financial and community development in underserved Texas communities to improve the standard of life of low- to moderate-income individuals. With the Rio Grande Valley Multibank, it initiated the Community Loan Center (CLC) to deliver affordable short-term loans as an option to payday that is high-priced.
With PGP funds, TCC intends to market and expand the CLC to markets presently maybe maybe perhaps not offered.
TCC normally examining the growth of a housing that is affordable investment to help nonprofit developers with acquiring land for affordable housing.
“There are very little resources for organizational funds for little nonprofit companies, which is the reason why this grant system is indeed unique and vital for the operations, ” said Texas Community Capital Executive Director Matt Hull. “The funds from the PGP grant will let us continue steadily to offer solutions for the Austin community. ”
Brazos Valley CDC Executive Vice President Paul Turney said the PGP funds have enabled the organization to aid organizations that are local such as for instance Texas Community Capital.
“We are grateful when it comes to partnership we now have with FHLB Dallas as well as the opportunity to assist nonprofits that are local and succeed, ” he stated.
Funding under FHLB Dallas’ PGP was increased by $2 million in 2020 under FHLB Dallas’ COVID-19 Relief Program to aid CBOs taking part in affordable housing activities, stimulating small company development or supplying small enterprises with technical support.