AUSTIN, Texas--(BUSINESS WIRE)--Austin-area media outlets are encouraged to attend the presentation of a $16,000 Partnership Grant Program (PGP) grant to Austin’s Economic Growth Business Incubator (EGBI). The award will be presented by representatives of Comerica Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) at 1:00 p.m., Friday, September 16, 2016, at For The City Center, 500 E. St. Johns Avenue, Austin, Texas, 78752.

Photo and interview opportunities will be available.

This marks the second grant to the nonprofit from the financial institutions. Similar to the award in 2014, EGBI will use the 2016 grant to cover operational and administrative expenses for the remainder of the year. The nonprofit, originally founded in Austin in 2003 as the Hispanic Technology Institute of Austin, grew and refocused its efforts to include providing entrepreneurial and technological skills primarily to minority and low-income citizens of Austin.

The PGP provides grants up to $12,000 to community-based organizations (CBO). The funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. Through the PGP, 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 annually via a lottery system, through FHLB Dallas members. In 2016, FHLB Dallas awarded $225,000 in PGP funds. Combined with the $96,200 contributed by FHLB Dallas’ members, a total of $321,200 was awarded to CBOs to help with their operational needs. For more information, visitfhlb.com.