Pacific Premier Bancorp’s Community Partner, Growth Partners Arizona, Receives AHEAD Grant
Company Release - 11/4/2020 6:00 AM ET
IRVINE, Calif.--(BUSINESS WIRE)-- Pacific Premier Bancorp, Inc. (Nasdaq: PPBI), the holding company for Pacific Premier Bank, announced that their community partner, Growth Partners Arizona, was recently awarded a $37,500 grant from the Federal Home Loan Bank of San Francisco. The award is part of FHLBank San Francisco’s 2020 AHEAD Awards, which recently granted $3.5 million in funding to targeted economic development projects and COVID-19 relief initiatives.
Growth Partners Arizona is on a mission to provide resources to nonprofits and small businesses through loans and technical assistance in order to enhance and empower underserved communities throughout Arizona. FHLBank San Francisco’s AHEAD grant will directly support Growth Partners Arizona’s Small Business Success program, which provides affordable loans to underserved and underrepresented small businesses in Arizona.
Pacific Premier Bank was proud to sponsor Growth Partners Arizona’s application for the award and continues to support the important work they are doing in Arizona. Pacific Premier Bancorp, Inc. Chairman, President, and CEO Steve Gardner said, “We are excited for the opportunity to support the communities in which we work, live, and do business. Thank you to FHLBank San Francisco for awarding an AHEAD grant to Pacific Premier and to Growth Partners Arizona’s Small Business Success program. Partnerships such as this are integral to the Bank’s commitment to eliminating economic disparities and creating positive change in underserved communities.”
FHLBank San Francisco’s 2020 AHEAD Awards
AHEAD is FHLBank San Francisco’s annual economic development grant program. In 2020, the program awarded $3.5 million to 97 different nonprofits. In response to the novel coronavirus (COVID-19) pandemic, FHLBank San Francisco awarded some of its funds to support immediate and long-term pandemic relief initiatives to help local nonprofits struggling to adapt to increased costs, loss of staff, and postponed fundraising campaigns tied to the pandemic.
AHEAD Awards are also granted to help nonprofits boost economic development in underserved communities. The awards are delivered by FHLBank San Francisco member financial institutions to nonprofits in Arizona, California, and Nevada.