DALLAS–(BUSINESS WIRE)–Dec 18, 2024–
In response to the challenges faced by small businesses impacted by flooding and wildfires in New Mexico, the Federal Home Loan Bank of Dallas (FHLB Dallas) is offering $1 million in grants through the Small Business Recovery Grant (SBRG) program to support recovery efforts in affected counties.
The program will be available to eligible small businesses via FHLB Dallas member institutions starting Thursday, January 2, 2025, on a first-come, first-served basis.
“We hope these grants will help impacted businesses get back on their feet, and we are optimistic that this funding through our members will aid in that effort,” said FHLB Dallas’ Executive Vice President Bre Chapman.
Under the SBRG program, FHLB Dallas will provide grants up to $20,000 per eligible small business to use for building rehabilitation and repair, machinery and equipment repair or replacement and inventory replacement.
The SBRG is a noncompetitive grant program that assists member financial institutions in providing relief to small businesses that have been impacted by severe weather. The funds are intended to assist with reasonable and necessary expenses that are not otherwise covered by insurance or other reimbursement.
FHLB Dallas does not provide direct-to-consumer grants. SBRG funds are only available through FHLB Dallas member institutions. Check with your financial institution or click here to find your nearest FHLB Dallas member institution. Learn more about the SBRG at fhlb.com/sbrg.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $124.9 billion as of September 30, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20241218890190/en/
CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com, (214) 441-8445
KEYWORD: TEXAS NEW MEXICO UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ENVIRONMENT INSURANCE CONSTRUCTION & PROPERTY NATURAL DISASTERS URBAN PLANNING BANKING PROFESSIONAL SERVICES SMALL BUSINESS OTHER CONSTRUCTION & PROPERTY
SOURCE: Federal Home Loan Bank of Dallas
Copyright Business Wire 2024.
PUB: 12/18/2024 12:07 PM/DISC: 12/18/2024 12:07 PM
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