Pacific Premier Bank Sponsors $52,500 in AHEAD Economic Development Grants
Pacific Premier Bank has collaborated with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) and its AHEAD economic development grant program to provide $27,500 in funding to CIELO and $25,000 to Peoples’ Self-Help Housing Corporation. The AHEAD economic development grant program enables FHLBank San Francisco members, like Pacific Premier Bank, to give a critical boost to local programs and projects that target pressing community needs and bring greater opportunity to underserved populations. Pacific Premier Bank’s sponsored grants will fund CIELO’s work to support small business and microenterprise incubation for low-income entrepreneurs and Peoples’ Self-Help Housing Corporation’s work to deliver educational and job training programs.
CIELO serves immigrant, minority, and under-resourced entrepreneurs, connecting them with the tools, resources, and trusted mentorship to launch or grow a thriving community business. CIELO will use this grant to support the development of a childcare business initiative that will provide new and existing entrepreneurs in Orange County with training and assistance essential to operating a successful home-based childcare facility.
Peoples’ Self-Help Housing Corporation’s mission is to build permanent supportive housing and provide services to strengthen communities and change lives. Peoples’ Self-Help Housing serves low-income households, families, farmworkers, seniors, and veterans. Peoples’ Self-Help Housing will use this grant to fund their college and career readiness program for Latinx students. This program includes tutoring, financial aid coaching, college entrance assistance, and career planning.
Since program inception in 2004, FHLBank San Francisco has awarded more than $20 million in AHEAD grants to over 700 economic development projects in Arizona, California, and Nevada. In the 2022 funding round, at the Board of Director’s discretion, FHLBank San Francisco allocated $1.5 million in AHEAD grants for 55 projects. Pacific Premier Bank applied for the grant in partnership with CIELO and Peoples’ Self-Help Housing Corporation and was awarded $52,500 after a competitive selection process. This is the fifth year Pacific Premier Bank has participated in the program.
“From creating jobs and supporting small businesses to providing resources for underserved populations, this year’s grantees showcase all the ways nonprofits supported by the AHEAD program are making a difference,” said Marietta Núñez, Senior Vice President and Community Investment Officer at FHLBank San Francisco. “We couldn’t be more proud to partner with Pacific Premier Bank to support innovative initiatives that will strengthen the economic vitality of our communities.”
For those interested in applying for the AHEAD program in 2023, please contact Pacific Premier Bank or visit the FHLBank San Francisco website to learn more.
About the Federal Home Loan Bank of San Francisco
The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — promote homeownership, expand access to quality housing, and boost economic development. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.