(KNSI) – Falcon National Bank and the Federal Home Loan Bank of Des Moines are awarding $20,000 to the Initiative Foundation for affordable housing efforts in central Minnesota.
The money acts as a matching grant. Initiative Foundation President Brian Voerding says, “These are critical dollars that will directly support underserved entrepreneurs and rural small business owners through our free training and coaching programs.”
In total, FHLB Des Moines has earmarked $20 million for the state and $70 million for its district. FHLB Des Moines is one of 11 across the country. Its region runs from Iowa to Minnesota and then west all the way to the Pacific coast, with Oregon and Washington included.
Chartered by Congress, each Federal Home Loan Bank is made up of private member institutions like commercial banks, credit unions, and savings and loan branches.
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