|For immediate release|
The Federal Reserve Board today announced the availability of a new Internet site, 1stSource Community Development Resource Guide, designed to help people find resources for affordable housing, business development, community infrastructure, and agribusiness. The new site, developed by the Federal Reserve Bank of Kansas City, can be accessed at www.1stsource.kc.frb.org.
"The strength of 1stSource is its simplicity," said Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City. "With dozens of federal programs available, it can be difficult to pinpoint what is needed for a project. This is the first time people have had one source for community and economic development information. People interested in financing projects that benefit economically-disadvantaged individuals, small businesses, small farms, and local communities will find 1stSource especially useful."
1stSource users can describe their projects by clicking on specific characteristics, such as type of project, the kind of financial or technical assistance needed, and project location. 1stSource will then locate grant and loan programs and other resources that fit those characteristics, and provide a brief one-page summary. If a program looks promising, users can contact the agency through the Internet link, telephone number, or address provided.
The Community Affairs staff at the Federal Reserve Bank of Kansas City collaborated with federal agencies to make this service available. Agencies involved include: the Small Business Administration, the Economic Development Administration, the Department of Housing and Urban Development, the Bureau of Indian Affairs, the Department of Agriculture, the Federal Home Loan Banks, the Federal Agricultural Mortgage Corporation (Farmer Mac), the Department of Health and Human Services' Office of Community Services, and the Department of Veterans Affairs. 1stSource has also invited states to include information about their programs.
For more information on 1stSource, contact John A. Wood, assistant vice president and community affairs officer, Community Affairs Department, Federal Reserve Bank of Kansas City, 1-800-333-1010, extension 2203.
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