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Funds Will Offset Operational and Administrative Charges For Austin-Based Nonprofit
AUSTIN, Texas–( COMPANY WIRE )–Brazos Valley Community developing Corp. (Brazos Valley CDC) and also the Federal mortgage loan Bank of Dallas (FHLB Dallas) have actually granted a $6,000 Partnership Grant Program (PGP) honor to Texas Community Capital (TCC).
PGP funds assist qualified nonprofit businesses fund a number of functional and administrative tasks which can be critical to serving their communities.
TCC provides loan that is specialized investment products that promote financial and community development in underserved Texas communities to improve the caliber of lifetime of low- to moderate-income people. With the Rio Grande Valley Multibank, it initiated the Community Loan Center (CLC) to give you affordable short-term loans instead of payday that is high-priced.
With PGP funds, TCC intends to market and expand the CLC to areas presently maybe perhaps not offered.
TCC can be checking out the growth of a reasonable housing loan investment to aid nonprofit designers with acquiring land for affordable housing.
“There are very little resources for organizational funds for tiny nonprofit businesses, which is the reason why this grant system can be so unique and vital for the operations, ” said Texas Community Capital Executive Director Matt Hull. “The funds through the PGP grant will let us continue steadily to provide solutions for the Austin community. ”
Brazos Valley CDC Executive Vice President Paul Turney said the PGP funds have actually enabled the organization to guide organizations that are local such as for instance Texas Community Capital.
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