Community Lending Program
Looking for liquidity that creates a nice spread? FHLBank Pittsburgh’s Community Lending Program (CLP) can provide that liquidity while also helping you manage your cost of funds. CLP offers a match fund mechanism at a very competitive rate, typically 15 to 25 basis points below the Bank’s regular rates. The program is available to member financial institutions for qualified community and economic development projects that create housing, build infrastructure, help small businesses and strengthen neighborhoods.
Join us for a 30-minute lunchtime webinar at noon on July 31 to learn more about using CLP. To register for the webinar,
click here. To discuss CLP opportunities or arrange for technical assistance or training, talk with your FHLBank Relationship Manager or contact Jim Gasperowich at 1-800-288-3400, ext. 2864, or firstname.lastname@example.org.
FHLBank Pittsburgh’s Community Lending Program
(CLP) offers loans to member financial institutions
for community and economic development projects that
create housing, improve business districts and strengthen
neighborhoods. CLP is designed to help members meet
their community investment goals while maintaining and
enhancing their own profitability.
- An $825 million noncompetitive revolving loan pool.
When loans are repaid, that money is available to
be loaned to other projects.
- Loans are typically 15 to 25 basis points below the Bank's regular loan rates.
- With low-cost (priced at FHLBank's cost of funds)
and flexible financing with terms up to 30 years,
CLP is an alternative funding source for members.
- Members may also take advantage of CLP to match
fund mortgage and small-business loan portfolios.
What qualifies for CLP funding?
CLP is the melting pot of community investment projects.
Funds can be used to:
- Acquire real estate or equipment for a business
in a qualified income census tract
- Construct a community facility, such as a theater
or park, that serves a qualified rural county
- Improve infrastructure or a site in a lower-income
municipality to support a business park
- Renovate a manufacturing facility to create jobs
for low- to moderate-income persons
- Provide permanent financing for apartments for moderate-income
- Provide equity bridge financing for a Low Income
Housing Tax Credit project
- Construct office space for a nonprofit agency serving
the mentally handicapped
- Refinance the debt of a day care facility serving
predominantly lower-income families
CLP offers competitive pricing and access to multiple
financial structures. Member financial institutions
may tailor the terms to best fit the project. Financing
- Lines of credit
- Fixed- or variable-rate loans
- Fixed rates up to 30 years
- Forward rate lock option
- Permanent, construction or bridge financing
What criteria are used?
For rural areas, targeted income levels are household
incomes equal to or less than 115 percent of the area
median income. For urban areas, targeted income levels
are household incomes less than or equal to 100 percent
of the area median income. For eligible areas and income
data, contact the Community Investment Department at
How do you apply?
- Click on the buttons at right to download a CLP
application and the appropriate portfolio, spreadsheet
- Complete the application and all necessary supplemental
- Submit the application.
Please make sure that the application is submitted
by a member financial institution of FHLBank. Send the
completed application to FHLBank Pittsburgh, Community
Investment, 601 Grant Street, Pittsburgh, PA 15219-4455.
Note: There is no deadline for submitting CLP funding
Application processing time is generally five to ten
working days from receipt of the application and all
supporting material. CLP funds must be drawn down from
FHLBank's Member Money Desk within 90 days of loan origination.
For more information or to take advantage of the program,
please contact Jim Gasperowich at 412-288-2864.
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