- July 09, 2019
- Bulletin No: 2019-16
The Federal Home Loan Bank of Dallas (Bank) is pleased to inform members of two changes to its Small Business Boost (SBB) program.
Effective July 1, 2019, SBB program enrollment will be simplified to require completion of the SBB Enrollment Form and SBB Master Agreement only. The enrollment form and master agreement are available on fhlb.com/sbb under "Helpful Resources." Members will no longer be required to view the SBB webinar, provide a copy of their loan policy or submit a blank credit write-up form to enroll in the program.
Effective July 15, 2019, the Bank is also removing the $300,000 annual member cap, so there will be no limit on individual member use of the SBB program for the remainder of 2019.
Launched in early 2019, SBB helps members provide financing for qualified small business transactions by filling the gap between the amount the member can provide and the loan request made by an eligible small business. SBB loans are unsecured and subordinate to the primary loan made by the member to meet the financing needs of the small business when there is a lack of equity or shortfall in collateral. As small businesses grow and repay the SBB loan, the Bank will recycle the funds back into the program to help finance future small business transactions.
Members may apply for SBB funds during an open funding round. The Bank allocated $1.5 million to the program in January. Any remaining funds as of Friday, June 28, 2019 will roll into the next funding round on July 15, along with an additional $1.5 million allocation. SBB funds are available on a first-come, first-served basis until all funds have been exhausted or Friday, November 29, 2019, whichever comes first.
Detailed information on SBB, including enrollment and application forms, guidelines and other information may be found at fhlb.com/sbb. For questions regarding SBB, please contact Community Investment at 800.362.2944.
Sanjay K. Bhasin
President and Chief Executive Officer