The National Association for Latino Community Asset Builders (NALCAB) has announced they will be providing capacity-building grants to five San Antonio nonprofits, increasing their financial sustainability and effectiveness in the long-term.

These nonprofits must offer financial coaching and/or small business technical assistance to Latino, immigrant, and low-income communities. The grants total $40,000 each and will be included alongside a year's worth of training.

The funding for these grants was made possible through the support of the United Services Automobile Association (USAA), a financial investment group that provides insurance, banking, investment, and retirement plans for members of the U.S. military and veterans.

The USAA supports NALCAB in this as a part of their three-year, $50 million commitment to advance economic mobility for underserved communities.

NALCAB was chosen to help these selected organizations in better serving entrepreneurs with coaching strategies and curriculum that focuses on the intersection between personal financial health and the success of small businesses.

“Financial health is the foundation for strong, successful businesses. So, we are thrilled to be able to offer critical training and funding to these outstanding nonprofits that are helping Latino, veteran and other underserved entrepreneurs to grow and thrive,” said NALCAB President & CEO Marla Bilonick, in a statement.

“We appreciate the generous support from USAA that is enabling us to provide the financial tools, training and resources to help these organizations further bolster the success of their small business clients.”

The nonprofits receiving the grants are:

American Indians in Texas at the Spanish Colonial Missions: Established in 1994 by the Tap Pilam Coahuiltecan Nation, and works to preserve and protect the culture and traditions of the indigenous populations of South Texas and Northeast Mexico who resided in the Spanish colonial missions.

Culturingua: A nonprofit that is dedicated to the cultivation, promotion, and preservation of Middle Eastern, North African, and South Asian (MENASA) cultural, artistic, and linguistic heritage in order to invest in economic, community, and human investment.

LiftFund: A money lending group that supports small business owners through microloans, small business loans, and connections to financial resources for businesses owned by those from diverse, multicultural, women owned, and veteran business owners.

Maestro Leadership Foundation: Who aim to support local/small businesses by pushing their business growth beyond a $1 million revenue threshold.

YWCA-SA: The San Antonio branch of the YWCA-USA, the oldest and largest multicultural women's nonprofit organization in the world that seeks to eliminate racism, empower women, and provide aid for women in periods of crisis across the United States.