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Community Lending Programs

• HLB Advantage: The Community Lending Program — Your Path to Low-Cost, Long-Term Advances

 

Members can take advantage of the Community Investment Program ("CIP") to gain access to the lowest-priced HLB funding for the financing of community development projects that create housing, improve business districts and strengthen neighborhoods. These funds are available daily throughout the year in the form of CIP Advances and CIP Letters of Credit ("CIP L/C"). CIP Advances feature the lowest advance rates available on a daily basis and can be amortizing, bullet or custom-structured.

 

Also provided under the CIP is the Fresh-Start Home Finance Program. Through this program the HLB offers “at-cost” advances to provide foreclosure prevention assistance for low- to moderate-income households who cannot afford the terms of their existing mortgages.

 

Additionally, the HLB offers its members two low-cost advance programs specifically designed to finance the economic development needs in your community: the Rural Development Advance ("RDA") and the Urban Development Advance ("UDA"). Suitable RDA and UDA uses include: commercial, small business, manufacturing, social service, and public facility projects and activities as well as the construction or rehabilitation of public or private infrastructure, such as roads, utilities, and sewers.

 

 

 

Eligible Uses of Community Development Funds:

 

Use a CIP Advance or CIP L/C to: Finance housing for families or individuals with incomes at 115% or less the area median income

Use Fresh-Start Home Finance Advance to: Provide affordable mortgage refinancing to households with incomes at or below 115% of area median income who are facing unaffordable or soon-to-be unaffordable mortgage payments

Use an RDA to: Finance economic development projects in areas with a population of 25,000 or less that benefit families at or below 115% of the area median income

Use a UDA to: Finance economic development projects in areas with a population greater than 25,000 that benefit families at or below 100% of the area median income