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Coalition of African American Communities to Receive $12.2K GrantThe Coalition of African American Communities (COAAC) will be awarded $12,200 in Partnership Grant Program (PGP (News - Alert)) funds from the Federal Home Loan Bank of Dallas (FHLB Dallas) and two FHLB Dallas member institutions: The First, A National Banking Association and Community Bank. COAAC provides financial literacy and small business training for low-income residents of Gulfport, Mississippi. The event will be held at 10:00 a.m., Friday, August 18, 2017, at the COAAC headquarters located at 3280 39th Avenue in Gulfport, Mississippi. **The media is encouraged to attend.** COAAC is growing in its quest to help stimulate small business development and sustainable communities. The nonprofit will use the $12,200 PGP grant from The First, A National Banking Association, Community Bank and FHLB Dallas to offset operational and administrative expenses including new equipment, computer software, technical assistance and staff training. PGP awards provide grants up to $12,000 to community-based organizations (CBOs). The funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. Through PGP awards, FHLB Dallas matches a member's contribution to a CBO of $500 up to $4,000 at a 3:1 ratio. The grants are offered via a lottery system once a year through FHLB Dallas members. In 2017, FHLB Dallas awarded $300,000 in PGP funds through 31 member institutions to assist 30 CBOs. Combined with the $104,550 contributed by FHLB Dallas members, a total of $404,550 was awarded to the organizations. For more information, visit fhlb.com.
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