Austin, October 1, 2025
News Summary
The Economic Growth Business Incubator (EGBI) in Austin is awarded a $42,000 grant from the Federal Home Loan Bank of Dallas, Texas Capital, and Encore Bank. This funding aims to enhance business coaching services for local small enterprises, enabling EGBI to assist more business owners in overcoming unique challenges. The grant is part of the Partnership Grant Program, which supports economic growth initiatives within the community.
Austin, Texas – The Economic Growth Business Incubator (EGBI) has received a $42,000 grant aimed at enhancing business coaching services for small enterprises in the area. The grant is funded by the Federal Home Loan Bank of Dallas (FHLB Dallas), Texas Capital, and Encore Bank. The announcement of the grant comes as part of the organizations’ collective effort to stimulate local economic growth and support for small business owners.
A ceremonial check presentation for the Partnership Grant Program (PGP) occurred recently in Austin, underscoring the collaborative initiative between the three financial institutions. The funding will enable EGBI to further develop its coaching services and provide assistance to a greater number of Main Street business owners who often face unique challenges in their entrepreneurial journeys.
EGBI plays a critical role in the community, offering training, coaching, and support to both aspiring and established business owners who encounter barriers to success. This funding is essential as EGBI works to empower individuals within the local small business community.
The Partnership Grant Program by FHLB Dallas features a matching contribution of up to 5:1, allowing member organizations to receive a maximum of $25,000 to foster economic development and affordable housing. The PGP is an annual initiative, providing funding through member institutions connected with FHLB Dallas.
Leaders from the financial institutions involved have expressed their commitment to empowering underserved entrepreneurs in the Austin area. The collaboration supports EGBI’s mission by ensuring that small business owners receive the resources and guidance needed to navigate the challenges they face.
Greg Hettrick, the senior vice president of FHLB Dallas, noted the significant impact that PGP grants can have on small nonprofits like EGBI, emphasizing the program’s contribution to community development. Todd Jordan, the Austin Market President at Texas Capital, and Danette Castaneda, vice president at Encore Bank, both highlighted that the grant aligns with their objectives to invest in local communities and enhance economic opportunities.
EGBI, classified as a nonprofit organization, focuses on fostering sustainable economic growth in the region. With the additional funding, EGBI can expand its reach and help more small businesses succeed. As of June 30, 2025, FHLB Dallas reported total assets of $116.1 billion and has a longstanding history of providing loans and credit products to support housing initiatives and community development in various states, including Texas.
Texas Capital Bancshares, the parent company of Texas Capital Bank, has been active in providing financial solutions since 1998. Meanwhile, Encore Bank, originally founded in 1997 as Capital Bank, underwent a rebranding in 2019 and currently operates with 19 offices and assets totaling $3.51 billion.
The current grant awarded to EGBI represents a meaningful investment in the future of small businesses in Austin, setting a foundation for enduring economic growth and support within the community.
FAQ
What is the amount of the grant received by EGBI?
The Economic Growth Business Incubator (EGBI) received a $42,000 grant.
Who provided the grant to EGBI?
The grant was provided by the Federal Home Loan Bank of Dallas (FHLB Dallas), Texas Capital, and Encore Bank.
What is the purpose of the grant?
This funding aims to support business coaching services for small businesses.
What program is the grant associated with?
The grant is part of the Partnership Grant Program (PGP) offered by FHLB Dallas.
What is the matching contribution provided by FHLB Dallas through the PGP?
The PGP offers a matching contribution of up to 5:1, with a maximum of $25,000 per member to support organizations involved in affordable housing or economic development.
What role does EGBI play in the community?
EGBI provides training, coaching, and support to aspiring and existing business owners facing barriers to success.
Key Features of the Grant and EGBI’s Role
| Feature | Details |
|---|---|
| Grant Amount | $42,000 |
| Funding Organizations | FHLB Dallas, Texas Capital, Encore Bank |
| Coaching Services | Support for small business owners |
| Matching Contribution | Up to 5:1, max $25,000 |
| Role of EGBI | Training and support for aspiring and existing business owners |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- AIJourn: Economic Growth Business Incubator Grant
- Google Search: Economic Growth Business Incubator Austin
- Fort Worth Inc: Foundation for Better Business
- Encyclopedia Britannica: Foundation for Better Business
- ABC7 Chicago: Aspire Center Job Training
- Google Scholar: Aspire Center Workforce Innovation
- Business Wire: Michael J. Maher Training
- Wikipedia: Keller Williams Realty
- Digital Journal: Austin Johnson Executive Coaching
- Google News: Austin Johnson Executive Coaching
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