Zero percent funding available to be lent at 300 basis point mark up to Community Development Financial Institutions (CDFIs).
- Program is currently unavailable.
- This is a special program funded with a voluntary contribution from the FHLB which offers up to $5 million per borrowing institution in zero interest Advances to benefit CDFIs.
- The program is designed to expand economic opportunity in low-income and distressed communities - subject to availability, program requirements, and on a first-come, first-served basis with limited funds available.
- Loans between $100,000 and $5 million, subject to availability.
Maturity
5 years
Rate
0 percent
Accrual Basis
No interest accrued.
Interest is Paid
No interest paid.
Principal is Paid
At maturity.
Principal Prepayment Policy
No prepayment penalties. No partial prepayments.
Submission of Application
A CLIF Advance application is required for each borrowing.
To learn more about our Advance products, contact Credit Operations at 800-828-4191.