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Bulletin No.: 2020-25
September 14, 2020

TO: MEMBERS

SUBJECT: Small Business Boost Member Cap Removed  

Effective Wednesday, September 30, the Federal Home Loan Bank of Dallas will remove the $225,000 annual member cap for Small Business Boost (SBB) funds. For the remainder of 2020, there will be no limit on individual member use of the program. The remaining SBB funds totaling $958,546 will be available on a first-come, first-served basis until exhausted or December 4, 2020, whichever occurs first. The maximum SBB loan amount per small business remains the lesser of $100,000 or 50 percent of the member's credit exposure.

As a reminder, SBB uses in 2020 have been expanded to cover fixed costs, payroll, accounts payable and other expenses that cannot be paid because of impacts from the COVID-19 pandemic. Members may refinance the existing debt of their small business customer(s) to qualify for funding through the SBB program.

Applications are accepted via DocuSign. Visit fhlb.com/sbb to request the SBB Business Registration form. For more information about the application process, please see the SBB Lender Guide or view the webinar recording.

 

Sincerely,

Sanjay K. Bhasin
President and Chief Executive Officer