Support The Farming Community

Support The Farming Community With
Our 0% Development Advance Program

According to the 2022 USDA Census of Agriculture, of the approximately 1.9 million farms across America’s rural landscape, over 95% are operated by families, including family partnerships and family corporations. As the world population continues to increase and despite American farm production doubling between 1948 and 2015, estimates indicate it will not be enough, meaning support of farms and farming-related businesses in our rural areas, both now and into the future, is critical.

The Federal Home Loan Bank of New York’s 0% Development Advance (ZDA) Program offers subsidized funding in the form of interest rate credits so that you may provide your customers with low-rate, competitive funding to support the needs of farms and farming-related businesses, agricultural infrastructure projects and to promote sustainable farming techniques in your local area. Examples of qualified loans include the purchase of agricultural equipment that promotes sustainable farming practices (plows, tillers, seed drills, cultivators), crop provisioning (fertilizers, seeding, water systems and other planting needs), energy efficiency- and environmental improvement initiatives, such as solar panel arrays, or for the purchase of Federal Farm Credits or related securities. Furthermore, farms and farming-related businesses can qualify via any of the following advance types offered through the program: the Business Development Advance (BDA), the Infrastructure Development Advance (IDA) or the Climate Development Advance (CDA). Plus, the ZDA program, as an advance, offers a pathway to more FHLBNY Capital Stock, which has traditionally carried an above market-rate return¹.

We are currently accepting applications for this program until available funds are exhausted, but please keep in mind – funding is available on a first-come, first-served basis.

Apply Today!

¹Members are required to purchase FHLBNY capital stock equal to 4.5% of the dollar amount of any outstanding advances. FHLBNY stock dividend history is available on the Investor Relations section of the FHLBNY website. However, past performance is not indicative of future results.