WACO, Texas – (COMMERCIAL THREAD) – Insurors Indemnity Company and the Federal Home Loan Bank of Dallas (FHLB Dallas) have teamed up to provide $ 8,000 in Partnership Grants Program (PGP) funds to the McLennan Community Investment Fund (McCIF).
The fundraising was celebrated at a check presentation ceremony on September 14.
“McCIF provides small business loans and business training to small businesses in McLennan County, providing them with the financing and expertise that help foster economic growth, innovation and jobs in our communities,” said Dave Talbert, President and CEO of Insurors Indemnity Company.
McCIF will use the funding to strengthen its organizational capacity by offsetting administrative and operational expenses and strengthening governance of the organization, which seeks certification from the United States Department of the Treasury as a community development finance institution ( CDFI). The certification will allow McCIF to participate in a number of treasury and small business administration funding programs, including new market tax credits and direct loans and grants to increase its lending capacity.
“This funding from FHLB Dallas will strengthen our efforts to help McLennan County small businesses and help them grow,” said Bill Vance, president of McCIF. “We are very grateful for this funding from FHLB Dallas and Insurors Indemnity Company.”
For 2021, FHLB Dallas has awarded $ 400,000 in PGP grants, and its members have provided an additional $ 200,250 for an impact of more than $ 600,000 in its five-state district of Arkansas, Louisiana, Mississippi, from New Mexico and Texas.
âWe value our partnership with Insurors Indemnity, and look forward to the fruits of this partnership through the growth of small businesses in McLennan County through the work of McCIF,â said Greg Hettrick, Senior Vice President and Director of community investing at FHLB Dallas.
About the insurers’ compensation company
Based in Waco, Texas, Insurors Indemnity is a regional insurance company backed by more than 350 independent agents who market the company’s P&C products in Arkansas, Arizona, New Mexico, Nevada, Kansas , Louisiana, Oklahoma, Texas and Utah. The emphasis on common sense underwriting coupled with fast, user-friendly service underpins insurers’ approach to offering innovative and competitively priced insurance products. For more information visit insurorsindemnity.com
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $ 58.6 billion as of June 30, 2021, is a co-operative owned by its members which supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.