For a family farm in the Mississippi Delta that was heavily damaged by a March 2023 tornado, a Federal Home Loan Bank of Dallas (FHLB Dallas) $20,000 Small Business Recovery Grant provided some desperately needed good news.

Ms. Butler, co-owner of Martin Farms, has lived in Silver City, Mississippi, her whole life. When her father died last year, he left Martin Farms to her and her two sisters. The farm produces corn, soybeans and cotton and includes a horse arena and a shop that repairs farm equipment.

Like all FHLB Dallas programs, funds are awarded through member institutions. The Martin Farm grant was awarded through BankPlus.

Ms. Butler remained safely hidden in her guest bathroom when the March 24, 2023, tornado hit Silver City and storms battered the region, killing 26 people. But, once the tornado passed, she discovered that her home, the farm shop and farm equipment sustained heavy damage. The barn and horse arena were essentially destroyed.

“With so much destruction you don’t know where to turn,” Ms. Butler said. “As the weeks go by you wonder where to start. I am so blessed that BankPlus was sent my way.” 

In fact, BankPlus reached out to a number of small businesses and farmers in the disaster area that were known to have sustained damage.

“The Small Business Recovery Grant is an important tool in helping businesses and communities recover and rebuild,” said Mark Ouellette, BankPlus senior vice president and director of Affordable Housing . “That includes area farms which took a hard hit in the storms.”

FHLB Dallas made $2.5 million available in 2023 through its member institutions for eligible businesses to support more than 100 small businesses in Arkansas and Mississippi with grants up to $20,000 each.

“The support provided through our members such as BankPlus ensures that small businesses like Martin Farms can successfully recover after a disaster,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.

Learn more about FHLB Dallas disaster programs. 

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