Community Investment Advance Paycheck Protection Program Lending Application

posted on Monday, June 1, 2020 in Affordable Housing

In light of the unprecedented need for lending due to the COVID-19 pandemic, Federal Home Loan Bank of Des Moines is temporarily expanding our Community Investment Advance (CIA) product to accept loans from Paycheck Protection Program (PPP)-eligible entities who did not previously qualify as a small business for CIA purposes.

This change allows PPP eligible entities, regardless if they received PPP funding or not, to be eligible for a CIA discount advance rate.

CIAs for PPP lending expires the later of:

  • December 31, 2020,
  • or, if the authorization for the PPP is renewed, six months after the latest expiration of the PPP authority.

We have created a new CIA application specific to PPP loans for members to submit funding requests.

Please submit Community Investment Advance (CIA) applications at least 24 hours prior to the requested advance date. Applications can be submitted by fax to 515.699.1270 or by email to


Advance Information

The CIA advance limit per member is $10 million (aggregated on all outstanding CIAs). Separate applications must be completed for each CIA advance. A loan or pool of loans may not be used for more than one advance. Approval of a CIA Paycheck Protection Program Lending Application does not reserve funds or provide an interest rate lock. Interest rate is determined at the time of advance. All advances are subject to the availability of funds. Standard advance requirements including prepayment fees apply.


Paycheck Protection Program (PPP) Eligible Loans 

All loans must be made to a PPP eligible entity. PPP eligible entities are all business including nonprofits, veterans organizations, Tribal business concerns, sole proprietorships, self-employed individuals, and independent contractors that meet one of the following criteria:

  1. Small Business Administration's (SBA) size standard (in effect at the time CIA Application is submitted to FHLB Des Moines): The size standards are based on average annual receipts or average employment. See Small Business in Definitions for information.
  2. Businesses with 500 employees or less. Businesses in certain industries can have more than 500 employees if they meet applicable SBA employee-based size standards for those industries (click HERE for additional detail).
  3. Alternative Size Standard –
    1. Maximum tangible net worth of the business is $15 million or less; or,
    2. Average net income after Federal income taxes (excluding any carry-over losses) for the two full fiscal years before the date of application is $5 million or less.
  4. Waived Affiliation Standard –
    1. Hotel and food services industries (click HERE for NAICS code 72 to confirm); or,
    2. Franchises in the SBA’s Franchise Directory (click HERE to check); or
    3. Receive financial assistance from small business investment companies licensed by the SBA.
  5. Other – Bank may request additional information.


  1. COVID-19