Community Investment Program ("CIP")
CIP provides financing for homeownership and rental housing development activities that benefit individuals/families with incomes at or below 115% of the area median income.
Eligible Uses:
- Property acquisition or refinancing
- New construction
- Renovation/Rehabilitation
Rural ("RDA")/Urban ("UDA") Development Advance
RDA and UDA programs provide financing for community and economic development projects or lending programs that are either located in a rural area1 benefiting individuals or families at or below 115% of the area median income, or in an urban area2 benefiting individuals or families at or below 100% of the area median income.
Eligible Uses:
- Acquisition, construction, refinancing, or rehabilitation
- Small Business lending
- Equipment purchase for Commercial expansion
- Debt refinancing/consolidation for Commercial Business Community Infrastructure Projects
Community Lending Program Benefits:
- Applicable to a wide range of housing and community/economic development activities
- Flexible funding structures at favorable rates and terms
- Ability to match terms of the end loan to your customer to hedge interest rate risk
- Reduced financing costs
- Access to lower cost of funds at favorable terms for end loan recipient
- Enhanced CRA performance
- Improved community relations and recognition for community development activities
1 A rural area is defined as a unit of general local government with a population of 25,000 or less, an unincorporated area outside a Metropolitan Statistical Area (MSA), or an unincorporated area within an MSA that qualifies for housing or economic development assistance from the U.S. Department of Agriculture.
2 An urban area is defined as a unit of general local government with a population of more than 25,000, or an unincorporated area within an MSA that does not qualify for housing or economic development assistance from the U.S. Department of Agriculture.