Special Relief Funding Available for Members
posted on Monday, April 20, 2020 in Business News
In response to the coronavirus (COVID-19) pandemic, Federal Home Loan Bank of Des Moines has a special advance offering available for our members. These advances are intended to provide low cost, relief funding to help support the current needs of your customers who have been impacted by COVID-19.
The deadline to take advantage of this special advance offering has been extended to October 15, 2020.
- Short-term advance: 3-month or 6-month terms
- Per-member limit: $60 million
- Availability: Funding is available on a first-come, first-served basis until October 15, 2020 or until program funding has been exhausted
- Normal FHLB Des Moines credit and collateral requirements apply. Subject to funding availability. The Bank may discontinue this offer at any time without notice.
Current Discounted Rates:
For the most current rates and to request your relief funding advance, contact the Money Desk.
Contact Money Desk
“We understand that these uncertain times are having a significant impact on you, your financial institution and your customers. Our very existence is based on the necessity of remaining strong and dependable in times of need, and we remain firmly committed to working with you as you provide funding for your communities”
Kris Williams, President and CEO
Fund your Paycheck Protection Program (PPP) Loans
If you are looking for an interim or permanent source of funding for your financial institution’s PPP, your FHLB Des Moines membership gives you access to a multitude of advance products that provide flexibility, pricing certainty and duration certainty. Using this discounted advance offering to fund PPP loans can help quickly get funding into communities. We’ve provided an analysis of FHLB Des Moines funding options to help you evaluate the benefits when considering both your funding source and advance terms.
Continue ReadingRequest a Blended Funds analysis
Community Investment Advances (CIA)
For longer term funding needs, FHLB Des Moines members have access to $10 million in low-cost funds through CIA. These discounted advances are available to support the small business lending, economic development and housing needs in your community.
Contact Community Investment