Austin, October 1, 2025
News Summary
The Economic Growth Business Incubator (EGBI) in Austin has secured a $42,000 grant aimed at enhancing business coaching services for small businesses. Funded by the Federal Home Loan Bank of Dallas, Texas Capital, and Encore Bank, this initiative will empower local entrepreneurs by offering essential skills and resources. The grant will facilitate an expansion of coaching services to support Main Street business owners in building sustainable operations. Local bank leaders emphasized the collaborative effort required to promote economic development for underserved communities.
Austin — The Economic Growth Business Incubator (EGBI) in Austin, Texas has received a $42,000 grant to support business coaching for small businesses. The grant is provided by the Federal Home Loan Bank of Dallas (FHLB Dallas), Texas Capital, and Encore Bank, and the funding will enable EGBI to expand its coaching services and reach more Main Street business owners.
Key details and immediate impact
The funds will be used to support business coaching for small businesses, with a focus on helping business owners upskill and reskill to build sustainable businesses and lasting legacies in the community. A ceremonial check presentation took place in Austin to celebrate the Partnership Grant Program (PGP) awards. The PGP offers a match of member contributions up to 5:1, with a maximum of $25,000 per FHLB Dallas member.
How the grant is delivered and who is involved
The PGP is funded annually, and funds are distributed through FHLB Dallas member institutions. The program supports community-based organizations involved in affordable housing or economic development activities. Encore Bank supports the PGP as it aligns with their mission to invest in local communities.
Organizational roles and statements
Larissa Davila, executive director of EGBI, emphasized the importance of collaboration among financial institutions to aid small business growth. Todd Jordan, Austin Market President at Texas Capital, highlighted the importance of the funding for empowering underserved entrepreneurs in the Austin area. Danette Castaneda, vice president and community outreach officer at Encore Bank, praised FHLB Dallas’ matching program for its increased support for small nonprofits like EGBI. Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas, stated that PGP grants significantly impact small nonprofits.
About the Economic Growth Business Incubator
EGBI is a nonprofit organization that provides training, coaching, and support to business owners facing growth barriers. The funding will enable EGBI to expand its coaching services and reach more Main Street business owners.
About the funders
Texas Capital Bancshares, Inc. is the parent company of Texas Capital Bank and has a comprehensive network of clients across the country. Encore Bank, originally founded in 1997, has expanded significantly and focuses on a community-oriented banking approach. The Federal Home Loan Bank of Dallas is a member-owned cooperative serving Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
What this means for the community
The combined grant and matching structure aims to amplify local contributions and increase the capacity of small nonprofits and community organizations to offer business coaching and other economic development services. By directing resources toward coaching, the grant seeks to help small business owners strengthen operations, pursue growth, and improve long-term sustainability.
Next steps
EGBI will use the grant to increase the number of coaching sessions and outreach to Main Street business owners in the Austin area. Participating financial institutions will continue to identify eligible community partners through the PGP to distribute matching funds in future cycles.
FAQ
Who provided the grant?
The grant is provided by the Federal Home Loan Bank of Dallas (FHLB Dallas), Texas Capital, and Encore Bank.
How much was the grant?
The Economic Growth Business Incubator (EGBI) in Austin, Texas has received a $42,000 grant.
What will the funds be used for?
The funds will be used to support business coaching for small businesses.
Did a ceremonial presentation take place?
A ceremonial check presentation took place in Austin to celebrate the Partnership Grant Program (PGP) awards.
What is the Partnership Grant Program match structure?
The PGP offers a match of member contributions up to 5:1, with a maximum of $25,000 per FHLB Dallas member.
Who distributes PGP funds?
The PGP is funded annually, and funds are distributed through FHLB Dallas member institutions.
What types of organizations does the PGP support?
The program supports community-based organizations involved in affordable housing or economic development activities.
How will EGBI benefit locally?
The funding will enable EGBI to expand its coaching services and reach more Main Street business owners.
What did local bank leaders say about the grant?
Todd Jordan, Austin Market President at Texas Capital, highlighted the importance of the funding for empowering underserved entrepreneurs in the Austin area. Danette Castaneda, vice president and community outreach officer at Encore Bank, praised FHLB Dallas’ matching program for its increased support for small nonprofits like EGBI. Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas, stated that PGP grants significantly impact small nonprofits.
What are the funders’ organizational notes?
Texas Capital Bancshares, Inc. is the parent company of Texas Capital Bank and has a comprehensive network of clients across the country. Encore Bank, originally founded in 1997, has expanded significantly and focuses on a community-oriented banking approach. The Federal Home Loan Bank of Dallas is a member-owned cooperative serving Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
| Feature | Detail |
|---|---|
| Grant recipient | Economic Growth Business Incubator (EGBI) in Austin, Texas |
| Grant amount | $42,000 |
| Grant provided by | Federal Home Loan Bank of Dallas (FHLB Dallas), Texas Capital, and Encore Bank |
| Primary use | Support business coaching for small businesses |
| Program match | Up to 5:1 match, maximum $25,000 per FHLB Dallas member |
| Distribution | PGP is funded annually; funds distributed through FHLB Dallas member institutions |
| Regional scope of FHLB Dallas | Serving Arkansas, Louisiana, Mississippi, New Mexico, and Texas |
| Parent company note | Texas Capital Bancshares, Inc. is the parent company of Texas Capital Bank and has a comprehensive network of clients across the country |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- AI Journ: Austin Business Incubator Received $42K
- Encyclopedia Britannica: Business Coaching
- Fort Worth Inc: Foundation for Better Business
- Google Search: Small Business Support
- ABC7 Chicago: Aspire Center Job Training
- Google Scholar: Economic Development
- Business Wire: Michael J. Maher to Lead New Training
- Google News: Austin Business Incubator
- Canvas Rebel: Lakisha Austin of Resiliency
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