Business Development Advance
Business Development Advance Overview
Thank you for your interest in this program.
Please check back for updates on potential future distributions or contact [email protected] with any questions.
The Federal Home Loan Bank of New York’s (FHLBNY) 0% Interest Rate Business Development Advance (BDA) was launched in 2021 to help our members provide funding to qualifying small businesses to promote community & economic growth.
The BDA is subsidized funding in the form of interest-rate credits that members can request to reserve on a first-come, first-served basis. This funding can assist our members in providing loans at advantageous rates to any qualified small business.
Members will be notified in advance if future funds become available.
Benefits to Members:
- Supports communities by helping local businesses with their funding needs at competitive interest rates
- Provides members with a competitive advantage when bidding for small business loans
- Affords opportunities for members to elevate their image when marketing to new customers and creates value for existing customers
- Ensures a reasonable spread for members’ small business lending activities