Economic Development Program (EDP)

Benefits for Your Financial Institution 

Low-cost source of funds for economic development initiatives with financing below standard advance rates. 

Strengthen your customer and community relationships through your support of small business and  economic development initiatives. 

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Program Requirements

To qualify for an EDP advance, the project must create or retain jobs for employees and meet at least one of the following criteria: 

• Project is located in a rural area where the majority of household incomes are at or below 115 percent of the area median income (AMI)
• The project is in an urban area where the majority of household incomes are at or below 100 percent of the AMI
• At least 51 percent of the project’s employees have incomes that are at or below 80 percent of the AMI
• At least 51 percent of the families who will benefit from the project have incomes at or below 80 percent of the AMI
• The project qualifies as a small business as defined by section 3(a) of the Small Business Act (15 U.S.C. 632 (a)) and implemented by the Small Business Administration under 13 CFR part 121, or any successor provisions
• The project qualifies as another targeted beneficiary as approved by the Federal Housing Finance Agency (FHLB Dallas’ regulator)

A project will also qualify for an EDP advance if it is in one of the following areas: 

• Native American area 
• ​Federal or approved state disaster area 
• An area eligible for a federal brownfields tax credit 
• An area impacted by a military base closing 
• A federal Enterprise Community or Empowerment Zone 

Terms 

EDP advances are noncompetitive and available to FHLB Dallas members throughout the year. In addition: 

• EDP advances may be fixed-rate or floating-rate, amortizing or non-amortizing
• Terms range from three months to 30 years but may not exceed the term of any financing that the member makes to the project
• EDP advances must be used to finance loans that have closed within the past three months or that will originate within the following three months from the date of the commitment
• If FHLB Dallas determines that the EDP advance was improperly used, it may be converted to a comparable market interest rate
• FHLB Dallas members using an EDP advance must comply with the FHLB Dallas Member Products and Credit Policy on SecureConnect

How to Apply 

To apply for an EDP advance, members must complete a written application. Download and complete the  EDP Advance Application along with supporting documentation to Member Services: 

• Via email to: member.services@fhlb.com 
• Via fax to; 214.441.8514 

Note: Funds may only be accessed through a member institution. FHLB Dallas does not provide funds directly to consumers. 

FHLB Dallas provides Economic Development   Program (EDP) advances through its financial institution members. Homeowners, business owners or representatives of community-based organizations seeking EDP advances must contact a member financial institution to apply for funds. Funds may only be accessed through a member institution. FHLB Dallas does not provide funds directly to consumers.

Please note that in addition to the approved uses and program requirements listed below, members have their own underwriting criteria and lending areas.

The materials below provide more detailed information regarding EDP advances and tools to help you apply.