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Economic Development Program Plus

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"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 November 26, 2018: $0

Current Member Maximum: $80,000

 

Beginning in January 2019, the Economic Development Program Plus (EDPPlus) will be replaced with a new small business loan program. Details of the new program are available in Bulletin No. 2018-22. As a prerequisite for participating in the inaugural $3 million offering ($1.5 million will be made available in January 2019; and the remainder in July), members must participate in one of several webinar training opportunities. Please note that EDP advances. will still be available to members.

Webinar Registration is Open 

Please click on one of the date options below to register for that webinar.

Thursday, November 1, 2018 at 2:00 p.m.

Tuesday, November 6, 2018 3:00 p.m.

Wednesday, December 5, 2018 at 10:00 a.m.

Thursday, December 13, 2018 at 2:00 p.m.

 

 

 

 

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.

​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.
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