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Program-Specific Community Lending

Program-Specific Community Lending was launched on March 31, 2006 as an enhancement to the HLB’s Community Lending Program (CLP). In addition to submitting CIP, RDA, and UDA applications on a Project-Specific basis, members can apply for a Program-Specific commitment that will operate similar to a pre-approved line of credit. This allows members to apply for a larger commitment to finance a targeted lending program.

The application process differs slightly from the project- specific commitment application. Instead of describing one specific project in the application, you describe the underwriting criteria of CIP-, RDA- or UDA-eligible loans to be originated under a targeted lending program. These targeted lending programs can include:

• CIP-eligible multi-family or single-family residential lending
• RDA/UDA-eligible commercial, industrial and small business lending

Once approved for a Program-Specific commitment, all loans originated within the parameters of the approved lending program may be submitted for funding. Loans that have already been originated prior to the submission of the Program-Specific application are eligible for funding as long as the loans were originated within 3 months prior to the funding of the advance. The greater of $100 million or 5% of outstanding advances per member bank willbe in effect for 2007 for both program-specific housing programs and community development programs.

Please refer to the links below for further information on Program-Specific commitments, such as benefits and program requirements for CLP. If you have any questions, or if you would like additional information about any of our Community Lending Programs, please contact your Calling Officer at 212-441-6700, or the Community Investment department at 212-441-6851.

•  View related HLB Advantage about Program Launch (April 2006)
•  View related HLB Advantage about 2007 Enhancements (Jan 2007)
•  View CLP Specifications & Benefits