FHLB Economic Development Program (EDP) Plus Grant

Posted on by Prashanta

The FHLB Economic Development Program (EDP) Plus Grant is given by the Federal Home Lone Bank of Dallas.  They are available to the community to help meet community development needs.  Applications must be submitted to the bank.  There is a wide range of amounts of grant money available.  As FHLB is based in Dallas, it is for people and organizations who live in the Dallas area.  As of June Eighteenth 2012, there was 3998 dollars in funding available.

The EDP Plus is a first-come, first serve noncompetitive small business grant program, made to help member institutions in providing capital to under-served areas or to under-served populations.  EDP Plus funds have to be be used in conjunction with an EDP Advance from the Federal Home Loan Bank of Dallas.  Member institutions may apply for at most $100,000 in EDP Plus funds per year, and up to $25,000 can be granted to one small business.  Small business owners must put in an amount at least 15 percent of the member institution’s EDP advance.  Applications must be submitted by a member institution.

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