Photo Release -- Comerica Bank and FHLB Dallas Award $30K Grant to Assist
Local Organization With Small Business Training Program
DALLAS, Oct. 18, 2012 (GLOBE NEWSWIRE) -- The Business Assistance Center in
Dallas, Texas, has big plans for the $30,000 in Partnership Grant Program
(PGP) funds it was recently awarded by Comerica Bank and the Federal Home Loan
Bank of Dallas (FHLB Dallas).
Business Assistance Center Receives $30K
Comerica Bank and the Federal Home Loan
Bank of Dallas awarded a $30,000
Partnership Grant Program award to the
Business Assistance Center in Dallas.
A photo accompanying this release is available at
This is the second PGP award the Business Assistance Center has received from
Comerica and FHLB Dallas. The nonprofit received another $15,000 in PGP funds
in 2009. The Business Assistance Center, which serves as a resource to the
business community, plans to use its most recent grant the same way it used
the first PGP award – to fund its micro-enterprise program. The
micro-enterprise program is a 16-week training course of instruction,
education, planning, and business development for new business owners.
The organization works with approximately 20 small businesses offering them
training on starting and operating a business including training on how to
write a business plan, business plan review, technical assistance, and other
services. A small number of those business start-ups are selected to enter
into the organization's business incubation program, where they are offered
back-office support and more training.
"We're very excited and very happy to receive this grant," said Van Howard,
president and CEO of the Business Assistance Center. "It is a win-win for
everybody. Comerica supports our organization with an annual contribution, so
to be able to receive matching dollars to support the program is an added
Partnership grants are offered through FHLB Dallas's member institutions, such
as Comerica, to provide funding for the operational needs of community-based
organizations involved in affordable housing and community development. FHLB
Dallas matches a member's cash contributions to a community-based organization
of $500 up to $5,000 at a 3:1 ratio. Through its member institutions, FHLB
Dallas awarded $225,000 in partnership grants in 2012.
"The PGP is one of our most heavily utilized grant programs," said FHLB Dallas
President and CEO Terry Smith. "The matching funds component of the program
allows members, like Comerica Bank, to triple their contributions to the
organizations they support, and in turn, those organizations can continue
their valuable work in the communities. In this case, the PGP funds will help
further the Business Assistance Center's efforts to promote small business
development in the community as it provides new business owners with the tools
they need to succeed."
"Comerica has supported the Business Assistance Center for many years because
the nonprofit serves a critical niche in our community," said Lueretha Slack,
vice president and North Texas CRA market manager for Comerica Bank. "By
providing resources, tools and training to aspiring entrepreneurs, the
Business Assistance Center has helped countless small business owners achieve
their dreams, which creates jobs and makes a positive impact on our local
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the
FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of
$34.7 billion as of June 30, 2012, is a member-owned cooperative that supports
housing and community development by providing competitively priced loans and
other credit products to more than 900 members and associated institutions in
Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information,
visit the FHLB Dallas website at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at
About Comerica Bank
Comerica Incorporated (NYSE:CMA) is a financial services company headquartered
in Dallas, Texas, and strategically aligned by three business segments: The
Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on
relationships, and helping people and businesses be successful. In addition to
Texas, Comerica Bank locations can be found in Arizona, California, Florida
and Michigan, with select businesses operating in several other states, as
well as in Canada and Mexico. To find Comerica on Facebook, please visit
www.facebook.com/ComericaCares. Follow Comerica Chief Economist Robert Dye on
Twitter at @Comerica_Econ.
The photo is also available via AP PhotoExpress.
CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
Federal Home Loan Bank of Dallas Logo
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