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) is subsidized advance funding in the form of interest rate credits to assist members in providing loans at advantageous rates to qualifying small businesses. BDA funds have an annual allocation, and program terms change periodically.
Benefits to Members:
- Supports communities by helping local small businesses* with their funding needs at competitive interest rates
- Provides members with a competitive advantage when bidding for small business loans
- Affords business opportunities for members when marketing to new customers and creates value for existing customers
- Offers a reasonable spread for members’ small business lending activities
*As defined by the Small Business Administration (SBA) using the North American Industry Classification System (NAICS) Codes. The loan does not have to be an SBA loan.
Mechanics of the BDA:
*Rate used is an example and rounded for ease of illustration – as of 8/3/2022