NEW ORLEANS, Dec. 11, 2012 (GLOBE NEWSWIRE) -- With the help of $10,000 in Partnership Grant Program (PGP) funds, The Urban Conservancy will bolster its workshop series for local businesses, lenders, and community banks. The workshops teach innovative ways to reinforce the local economy through investing in local businesses.
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The PGP funds were made available by IBERIABANK and the Federal Home Loan Bank of Dallas (FHLB Dallas). In 2012, FHLB Dallas awarded $225,000 in grants through its PGP. Partnership grants are offered through FHLB Dallas's member institutions 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. In 2012, FHLB Dallas and IBERIABANK together awarded $20,000 in PGP funds.
Representatives from IBERIABANK and FHLB Dallas gathered yesterday for a check presentation at The Urban Conservancy's offices in New Orleans, Louisiana.
The Urban Conservancy's mission is to promote the wise stewardship of the city of New Orleans and its local economy.
"We are going to use the grant to bring nationally renowned speaker Michael Shuman (author of "Local Dollars, Local Sense: How to Shift Your Money from Wall Street to Main Street and Achieve Real Prosperity") to lead a workshop in New Orleans," said Dana Eness, executive director of The Urban Conservancy. "The workshop is called Local Investing 101, and it is geared toward local businesses, lenders, and community banks to create innovative ways to reinforce the local economy by investing in our local businesses."
One of The Urban Conservancy's initiatives is the Stay Local! independent business alliance. Stay Local! works with locally owned businesses throughout metro New Orleans to connect them to resources, markets, and each other. The Urban Conservancy is a member of the New Orleans Business Alliance's strategic advisory council.
Ms. Eness learned about the partnership grants while researching financing opportunities. "I was doing my due diligence, looking through a grants data base and the PGP jumped out at me, specifically because of my relationship with IBERIABANK. I was really excited to see that IBERIABANK participates in the program."
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 $35.2 billion as of September 30, 2012, is a member-owned cooperative that supports housing and community development by providing competitively priced advances 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.
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