Community Investment Cash Advance Program
The FHLBanks are also authorized to offer advances for targeted economic development under the Community Investment Cash Advance (CICA) program. CICA advances are targeted to specific beneficiaries, including small businesses and certain geographic areas. 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.
In 2022, the FHLBanks provided approximately $1.4 billion in CICA advances and approximately $8.5 million in CICA grants for economic development projects, such as commercial, industrial, and manufacturing projects, social services, and public facilities.