Community Lending Program
Members can use Community Lending Program (CLP) funding to finance bridge, construction and permanent loans that support a variety of housing and economic development projects.
What is the Community Lending Program?
FHLBank's CLP is a $2.6 billion revolving pool of flexible, low-rate advances with terms up to 30 years. Unlike our other community investment products, members do not compete for CLP funds. Members can use CLP to finance bridge, construction and permanent loans to support a variety of housing and economic development projects, including:
- Affordable housing
- Small businesses
- Infrastructure (e.g., roads, sewers, water treatment plants)
- Libraries, community and government buildings
CLP Reference Materials
CLP Webinar - Recording of introduction to the Community Lending Program.
CLP Webinar (PDF) - Introduction to the Community Lending Program.
CLP Webinar (PDF) - Introduction to the Community Lending Program.
Federal Financial Institutions Examination Council (FFIEC) - For census tract qualification
U.S Small Business Administration (SBA) Table of Small Business Size Standards - For small business qualification
U.S Small Business Administration (SBA) Table of Small Business Size Standards - For small business qualification
What You'll Gain
How Does CLP Benefit Members?
FHLBank members benefit from CLP in a variety of ways.
Financing at FHLBank Pittsburgh's cost of funds (typically 15-30 basis points below comparable advance rates)
Opportunity to match-fund loans, which locks in long-term funding and mitigates interest rate risk
Enhanced community relationships, creating the possibility for future new business
Potential for Community Reinvestment Act credit
Overview
Still Have Questions?What Qualifies for CLP Funding?
CLP funds can be used to refinance a portfolio of existing qualified loans or to provide financing for individually qualified community projects, including:
- Homeownership and rental housing projects targeting low- to moderate-income residents, up to 115% of area median income
- Small business financing based on SBA size standards
- Projects located in a low- to moderate-income area based on census tract
- Projects employing or serving a low- to moderate-income population
- Projects located in a federal or state designated zone or community
For a complete guide to CLP eligibility qualifications, please refer to the CLP Qualifiers Guide.
How to Apply
The process for applying for CLP funds is:
- Member identifies qualified lending activity and determines the need for CLP financing before, or up to 90 days after, closing
- Member submits a CLP application and supporting worksheet, if necessary, for one of the following uses:
- Specific Project: Single qualified lending activity
- Portfolio Loan: A portfolio of loans originated by the member and submitted as one CLP application
- FHLBank Pittsburgh approves the CLP application within 10 business days of completion
- With approval, members can draw down the CLP advance amount in the same way they would a regular advance
There is no deadline for submitting CLP funding applications, but CLP funds must be drawn down within 90 days of loan origination. There is also a per-member cap of $100Â million in new CLP funding per year or a $300 million in total outstanding CLP advances, whichever occurs first.
Program Information
PDF
CLP Product Profile - Member
Our Community Lending Program allows our members to obtain low-rate advances for a broad range of uses, with terms up to 30 years.
PDF
CLP Quick Reference Guide
Tool to help FHLBank members indentify activity that qualifies for Community Lending Program funding.
Applications and Forms
PDF
CLP Homeownership Portfolio Worksheet
Supplemental Community Lending Program application form for owner-occupied housing loan portfolios.
PDF
CLP Rental Worksheet
Supplemental Community Lending Program application form for rental housing.
PDF
Job Creation/Retention Worksheet
Supplemental Community Lending Program application form for individual businesses.
PDF
Portfolio: Targeted Community Revitalization Spreadsheet
Supplemental Community Lending Program application form for community revitalization projects.
Particularly in this environment, where deposits are not keeping up with loan growth, having access to this affordable funding is a tremendous advantage. It gives us the flexibility to fund a broad range of projects, and because we know what our funding cost will be, we can better price our loans to match, which often saves our customers money."
Carrie Havas
SVP of Loan Operations, Brentwood Bank
