As your cooperative, we are always in search of ways to partner with you to meet our mission of building communities together. Today, we are pleased to announce a new way for you to energize your communities.
The Lending Enhancement Advance Program (LEAP) opens Monday, May 12, 2025. Supported by our voluntary funding, LEAP will allow you to borrow at below regular advance interest rates to support targeted types of lending.
At least $4.9 million will be offered through LEAP. Each member is limited to $300,000 in LEAP discounts. LEAP will be offered on a first-come, first served basis. Keep reading to start planning how you can use this new program.
Eligible Uses
- Eight targeted types of lending activity can qualify for LEAP discounts:
- Nonprofit mortgage originator loan purchases
- Rural development
- Small business lending
- Targeted agricultural lending
- Community Development Financial Institution (CDFI) lending
- CDFI match-funding
- Native American Tribal lending
- Infrastructure financing
Consider Your Options
LEAP advances are available for one- to five-year regular fixed rate advances of $10,000 or more. You choose the term and the rate. Each member has up to $300,000 available in subsidy (subject to program availability).
You can pick the amount of your overall discount from four different basis point reductions – 50, 100, 150 or 200 bps. If you have multiple projects and would like to maximize your allocated amount, you can select a lower reduction.
A few notes: Advances cannot exceed the unpaid principal balance of eligible loans for the eligible activity. All advances are subject to FHLBank’s standard early payoff fee.
Watch for More Information
We’ll send another email next week to share the details on how to apply for LEAP. In the meantime, contact our Lending Desk at FHLB.Lending@fhlbtopeka.com or 800.809.2733 with your questions.
