Bulletin No.: 2016-32
November 15, 2016
SUBJECT: 2017 EDPPlus Program – Allocation Amount and Program Revisions
The Federal Home Loan Bank of Dallas (Bank) has allocated $750,000 to the Economic Development Program Plus (EDPPlus) grant program for 2017. In addition, as described below, the Bank is implementing several changes to the program in 2017.
Through small businesses, EDPPlus grants promote economic development and create or retain jobs in underserved areas. They are awarded in conjunction with EDP advances.
|Maximum EDPPlus Per-Grant Amount||$20,000 or no more than 10 percent of the related EDP advance, whichever is less||$25,000 or no more than 15 percent of the related EDP advance, whichever is less|
|Annual Member Maximum||$80,000||$100,000|
|Small Business Requirements||The member provides a Sources and Uses statement for the small business request being financed and certifies on the application that the small business is contributing an amount at least equal to 10 percent of the member's EDP advance.||The small business provided evidence of equity in an amount at least equal to 15 percent of the member's EDP advance.|
|Small Business Requirements||The recipient is not required to work with a Small Business Development Center (SBDC) or provide a reference letter from the SBDC.||The recipient was required to work with an SBDC and provide a reference letter at the time of application.|
On Wednesday, November 30 at 2:00 p.m. CT, the Bank will present a webinar that explains the EDPPlus program and the updates for 2017. Register at fhlb.com/events or click here. We are committed to maximizing your membership value, and we hope you will find these program changes to be beneficial. If you have questions about the EDPPlus program, please contact Member Services at 844.FHL.BANK (844.345.2265) or email@example.com.
Sanjay K. Bhasin
President and Chief Executive Officer