FHLBNY Announces $5 Million In Small Business Grant Funding

New York, NY –The Federal Home Loan Bank of New York (“FHLBNY”) has launched the 2025 Round of its Small Business Recovery Grant (“SBRG”) Program with $5 million in grant funding available to local small businesses, farms and non-profits through the FHLBNY’s members. “Small businesses are not only part of the fabric of the communities they serve, but essential to economic growth at the local level,” said Randolph C. Snook, president and CEO of the FHLBNY. “Our Small Business Recovery Grant Program positions the FHLBNY to join with our members to provide critical support that keeps these institutions thriving and driving their communities forward.”

Report from the President: A Record Level of Support for Housing Affordability

Our foundational mission is to provide a stable source of funding for our members – the local lenders that utilize this consistent access to our liquidity to bolster their ability to make the loans that support small businesses, drive job growth, open the doors to homeownership and strengthen the communities they serve.

Update to Community Lending Program (CLP) Advances

The Federal Home Loan Bank of New York (FHLBNY) is updating the tenor maximum for CLP advances. Previously, the CLP advance tenors were restricted to one (1) to five (5) years. Effective September 2, 2025, CLP advances will now have a maximum tenor of ten (10) years. There is no change to the CLP tenor minimum.