Cleveland, Miss., Nov. 2, 2009 -- The Federal Home Loan Bank of
Dallas (FHLB Dallas) is pleased to announce that it has awarded a $21,000
EDPPlus grant to the Lost Dog Pizza Co. The grant was awarded through Planter's
Bank and Trust.
The grant was used toward expansion costs for the Lost Dog Pizza Co. Preston
Lott and Brooks Roberts have owned and operated the Lost Dog Pizza Co. in
Indianola, Mississippi, since 2007, but sales were so good at the location they
decided to expand to the college town of Cleveland, Mississippi.
The Cleveland location opened in March and has been a popular draw for the
"The FHLB Dallas grant helped tremendously in getting them open in Cleveland,"
said Weldon Aultman, President, Indianola Office, Planters Bank and Trust.
Mr. Brooks and Mr. Roberts wanted to apply for an EDPPlus grant when they opened
their first location in Indianola, but the grant money, which is available on a
first-come, first-served basis, was not available at the time they were opening
The Cleveland location is a popular draw for college students, who attend Delta
State University, as well as families. The location contains an old Volkswagen
bus, which has been renovated to contain bean bags, carpet, and a TV with video
Mr. Roberts said the grant made a big difference in opening the new location.
"With how hard everything is economically, especially with a new business and
trying to grow it, the grant really helped us out financially," Mr. Roberts
said. "It gave us what we needed to get the place going the way we wanted it,
and the way it needed to be, without having to skimp on anything. Nowadays,
every penny counts."
The FHLB Dallas EDPPlus program operates through member financial institutions
on a noncompetitive, first-come, first-served basis, and offers grant money in
conjunction with a favorably priced loan for the development of local business
in underserved or revitalized areas. In conjunction with the EDPPlus grant, the
Lost Dog Pizza Co. also received a loan from Planters Bank that was funded by an
Economic Development Program advance from FHLB Dallas.
About Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank
System created by Congress in 1932. FHLB Dallas, with total assets of $67.3
billion as of September 30, 2009, is a member-owned cooperative that supports
housing and community development by providing competitively priced loans and
other credit products to more than 900 members and associated institutions in
Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information,
visit the FHLB Dallas web site at fhlb.com.