Community Lending

CLP Forms & Resources

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What is the Community Lending Program?

FHLBank Pittsburgh's Community Lending Program (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

How Does CLP Benefit Members?

FHLBank Pittsburgh 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

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 $100 million in new CLP funding per year or a $300 million in total outstanding CLP advances, whichever occurs first.

CLP Success Stories

See examples of CLP projects that have had a beneficial impact on their communities.

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