![]() CICA eligibility will align with the Paycheck Protection Program at least through 12/31/20.Septem14 min read How mobile home refinancing works CICA funding in urban areas is for targeted beneficiaries with incomes at or below 100 percent of the area median income and CICA funding in rural areas is for targeted beneficiaries with incomes at or below 115 percent of the area median income.įHFA approval letter paves way for more businesses to get help through the FHLBanks’ Community Investment Cash Advance (CICA) programs. CICA lending is targeted to specific beneficiaries, including small businesses and certain geographic areas. CICA programs offer funding for FHLBank members to provide financing for projects that are targeted to certain economic development activities. ![]() The FHLBanks offer advances for targeted economic development under the Community Investment Cash Advance (CICA) program, which is authorized by FHFA regulation. ![]() The FHLBanks' CIP advances finance housing for households with incomes up to 115 percent of the area median income or commercial and economic development activities that benefit low- and moderate-income families (defined as 80 percent or less of area median income) or activities located in low- and moderate-income neighborhoods (where 51 percent or more of the households are low- or moderate-income).Ĭommunity Development Cash Advance for Targeted Economic Development The FHLBank Act also requires each FHLBank to offer Community Investment Program advances (i.e., loans) to their member financial institutions.
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