Sign In
Economic Development Program Plus

`​

"Obviously, a grant program means free money, and any type of free money gives a new business a chance to get on their feet quicker. We appreciate the Federal Home Loan Bank of Dallas and the support we get from them that enables us to go into the community, do some good, and create opportunities for more businesses to open ”

-Parker England, vice president, Planters Bank & Trust Company

​EDPPlus Small Business Grants

Available Funds as of March 7, 2017: $0

Current Member Maximum: $80,000

 

The Economic Development Program Plus (EDPPlus) is a small business grant program with awards up to $20,000 to qualifying small businesses. The EDPPlus grant promotes economic development and creates or retains jobs in underserved areas. EDPPlus grants are awarded through FHLB Dallas member institutions in conjunction with EDP advances.

 

 

EDPPlus Grant Requirements

 

  • A member institution must use an EDPPlus small business grant in conjunction with an EDP advance. The EDP advance must have a minimum term of one year. In addition, the member agrees to limit the rate mark-up to 400 basis points on the corresponding loan to the small business owner.
  • EDPPlus funds may constitute no more than 10 percent or $20,000, whichever is less, of the member institution's EDP loan amount.
  • The small business owner must contribute an amount equal to at least 10 percent of the member institution's EDP loan amount.
  • Member institutions must pass along the full amount of EDPPlus grant to the small business owner.
  • The small business must qualify as a small business as defined by the Small Business Administration (SBA). (Visit www.sba.gov for more details.)
  • The small business must be established as a legitimate business entity organized for profit, with a place of business located within FHLB Dallas' five-state District, and operating primarily within the United States or making a significant contribution to the U.S. economy through payment of taxes or use of American products, materials, or labor.

Small Business Grants through Member Institutions

Small business grants and EDPPlus funds are only accessible through FHLB Dallas member institutions and are awarded in conjunction with EDP AdvancesSmall businesses should contact an FHLB Dallas member institution to learn more and to apply for this small business grant. Check out the list of FHLB Dallas members by state.

Applying for an EDPPlus Grant

To apply for an EDPPlus grant, FHLB Dallas member institutions must submit EDPPlus applications with supporting documentation starting on January 3, 2017 when funding becomes available. Applications submitted prior to the funding date will not be accepted.

 

 

​EDPPlus Grant Funding Process

  • The EDPPlus grant will be funded immediately following the funding of the small business grant advance.
  • A copy of the executed promissory note is required prior to funding the EDP advance and EDPPlus small business grant.

EDPPlus Grant Monitoring Process

The small business owner is responsible for submitting a status report for the EDPPlus project. Status reports are sent to small business owners following funding of the grant.

 

 

 

Helpful Resources

 

Call Member Services at 844.345.2265.
LEARN MORE