Banking On Business
Delivered through members, Banking On Business (BOB) funding helps eligible small businesses that lack sufficient equity or cash flow meet lending standards.
What is Banking On Business?
Delivered through FHLBank Pittsburgh (FHLBank) enrolled members, BOB provides secondary unsecured loans, in conjunction with member first loans to help bridge the gap between what a small business needs and what a member can lend. BOB offers a set-aside for minority- and women-owned small businesses through the Banking On Business Inclusion and Equity fund (BOBIE).
On average, each BOB dollar FHLBank contributes leverages $6 in financial resources to small businesses in the region.
enrolled members
On average, each BOB dollar FHLBank contributes leverages $6 in financial resources to small businesses in the region.
enrolled members
BOB Reference Materials
BOB Enrollment Agreement - Member agreement to program terms
BOB Program Enrollment Form - Member form to enroll in the program
To enroll in BOBIE, please email bob@fhlb-pgh.com for a copy of the addendum to the BOB Enrollment Agreement.
BOB Brochure - Non-Member - Detailed brochure about Banking On Business for borrowers and interested parties.
BOB Brochure - Non-Member (Spanish) - Detailed brochure about Banking On Business for borrowers and interested parties.
What You'll Gain
How Does BOB Benefit Members?
FHLBank members benefit from BOB in a variety of ways.
Serves as gap financing to make small business deals bankable
Integrates with existing commercial underwriting; no additional underwriting required
Creates new business relationships and cross-selling opportunities
Provides additional fee income on the BOB loan
Qualifies for Community Reinvestment Act credit
Strengthens the local economy by helping to create and retain jobs
Through BOBIE, provides an opportunity to support underrepresented minority-and women-owned small businesses
Overview
Still Have Questions?What Qualifies for BOB Funding?
BOB or BOBIE funds may be used in financing the startup, maintenance or expansion of a small business, including, but not limited to:
- Building purchase
- Land acquisition and construction
- Facility expansion
- Machinery and equipment purchase
- Leasehold improvements
- Permanent working capital
- Closing costs
All grants are in the form of recoverable assistance with specific repayment terms. To qualify for BOB, the business must qualify as a small business based on SBA size standards and meet other eligibility criteria as defined in the BOB Program Manual.
How to Apply
To apply for BOB or BOBIE funds, members:
- Submit a one-time Enrollment Form and Enrollment Agreement to access the BOB product
- Members who wish to participate in BOBIE also must execute an Addendum to the BOB Enrollment Agreement prior to submitting any application for BOBIE. Please email bob@fhlb-pgh.com to request the Addendum needed to sign up for BOBIE.
- Once enrolled, submit registration forms during open funding rounds to request BOB or BOBIE funds on a first-come, first-served basis for qualified businesses. Members will be limited to an initial cap of $1,250,000 in BOB and BOBIE approvals. If funds remain available six months after the round opening, the funding cap will be lifted and any remaining funds will be re-pooled and made available again to all members.
Program Information
PDF
BOB Product Profile - Member
Banking On Business offers unsecured, secondary loans in conjunction with FHLBank Pittsburgh member first loans to finance the startup or expansion of qualified small businesses.
URL
BOB Product Webinar
This recorded webinar is an overview of the Banking On Business (BOB) small business lending program.
PDF
BOB Product Webinar (PDF)
This is a PDF version of the Banking On Business (BOB) small business lending program webinar.
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BOB Quick Reference Guide
Tool for FHLBank members to use when qualifying a BOB loan and processing an application.
Forms and Resources
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PDF
BOB Default Form
Form for members to request an existing Banking On Business loan be forgiven.
PDF
BOB Payment Deferral Request Form
Form for members to request a payment deferral on an existing Banking On Business loan.
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BOB Registration Form
Registration form for members to request Banking On Business (BOB) program funding.
PDF
BOB Term Extension Request Form
Form for members to request a term extension on an existing Banking On Business loan.
Enterprise Bank is committed to helping small businesses serve communities and FHLBank Pittsburgh is an essential partner in that mission.”
Chuck Leyh
President and CEO, Enterprise Bank
