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Whether a community needs capital
for small businesses, fixed-rate financing for affordable
housing, or improvements to local roads or schools,
members can turn to the Federal Home Loan Bank of Boston's
Community Development advances.
Advances for Affordable Housing
Members can tap Community Development advances to help
finance the purchase, construction, rehabilitation,
or predevelopment financing of affordable housing.
Did you know that CDA advances can also be used to fund Low Income Housing Tax Credit initiatives?
Advances for Economic Development
Members can use Community Development advances to support
a wide range of economic-development initiatives, including
loans for small businesses, social-service or public-facility
initiatives, and infrastructure improvements. These
advances can also be used to fund commercial, industrial,
and manufacturing initiatives.
Did you know that CDA advances can also be used for bridge loan financing?
Advances for Mixed-Use Initiatives
Community Development advances can also be used to finance
projects that involve a combination of economic-development
and affordable housing.
Available Products and Maturities
Community Development advances are available with maturities
of one month and longer. Three kinds of Community Development
advances are always available: Classic, Member-Option, and
Amortizing.
- Classic advances are fixed-rate advances
with interest due monthly and principal due at maturity.
- Member-Option advances are fixed-rate advances
that are repayable without fee on specified cancellation
dates.
- Amortizing advances are fixed-rate advances
with monthly payments of interest and principal.
Other Community Development advances may be available.
For more information about the CDA application process, please see the Community
Development Advances User Manual, the CDA Technical Assistance Training (PDF), or contact your community investment manager. |