• August 22, 2024
• Bulletin No: 2024-25

The Federal Home Loan Bank of Dallas (Bank) awarded $3.4 million in Capacity Building and Growth Grants (CBGG) to 14 nondepository Community Development Financial Institutions (CDFIs) to help facilitate the CDFIs’ ability to fulfill their critical role in supporting affordable housing, small businesses and economic development in underserved communities.

The CBGG program was launched in March to increase nondepository CDFIs’ ability to fulfill their mission by providing grants and technical expertise in specific areas. These awards were made either to CDFI member institutions or, through members,to nonmember CDFI institutions.

Click here to see a list of the awardees and members who facilitated the grants.

In addition to the $3.4 million, the Bank also awarded three nonmonetary expertise grants that leverage the Bank’s resources and technical expertise to assist with projects or initiatives related to communications or marketing strategy and small-scale automation.

The CBGG program was available to nondepository CDFI loan funds that are members of the Bank and nonmember, nondepository CDFIs that were sponsored by a member institution. Nondepository member CDFIs were eligible for $50,000 to $500,000 in monetary grants while sponsored nonmember CDFIs were eligible for $50,000 to $100,000 in monetary grants.

Award recipients were selected based on assessment criteria that was weighted based on impact.

Examples of activities that can be funded by monetary grants include:

• Operating expenses that fund significant changes in strategy or focus
• Technology improvements
• Leadership or expertise development
• Development of new sources of income