Survey Questions for FHLBank Member Lenders (For Aug. - Sept. Open-Forum discussions)

FHLBank Member Economic Development Survey for FHLBank of Pittsburgh Participants Pleas... Page 1 of 6

FHLBank Member Economic Development Survey for FHLBank of
Pittsburgh Participants
Please respond to the following questions to assist the Federal Housing
Finance Agency in identifying the nation's unmet economic development
credit needs. Your responses are important to us. The Federal Housing
Finance Agency is administering this voluntary survey. Your responses will
be anonymous and will only be associated with the type of your
organization. Your responses will also be provided to the Federal Home
Loan Bank (FHLBank) as written (i.e., unedited) to facilitate the open-forum
discussion.
This survey should take no more than 10 to 15 minutes to complete. Thank
you very much for taking part in this survey.
OMB No. 2590-XXXX, Exp. Date: MM/DD/2010

1

Is your institution a/an?
Certified Community Development Financial Institution (housing)
Certified Community Development Financial Institution (business)
Certified Community Development Financial Institution (both:
housing & business)
Credit union (Regulated by NCUA)
Commercial bank (regulated by OCC, the Federal Reserve, or
the FDIC)
Housing associate (state or local housing finance or economic
development finance authority)
Insurance company
Savings association (regulated by OTS)

2

Please check the federal, state or local economic development
funding programs that your institution participates in. (select all that
apply)
Small Business Administration (SBA) 7(a) Program
Small Business Administration (SBA) 504 Program
U.S. Department of Agriculture (USDA) Rural Community
Development Initiatives
U.S. Economic Development Administration (EDA)
State/local economic development authorities
Other (please specify):

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3

What are the biggest economic problems your market has faced in the
past 2 years? (please select only your top three)
Decline of a major industry (e.g. auto) - If selected, please
identify the major industry in the "other" field below.
Decline in sources of funds
Decline in private sources of funds
Decline in Federal sources of funds
Decline in state sources of funds
Decline in local sources of funds
Decline in business credit demand
General decline in small business activity
High unemployment
Lack of public infrastructure to support development
Lack of local government concessions (e.g., tax abatements)
More restrictive credit requirements
Other (please specify):

4

Rank the following purposes of business credit for which there is an
unmet demand in your market. (1 = Most Important, 4 = Least
Important).
1

2

3

4

Equipment
Expansion
Permanent Working Capital
Premises/Real Estate

5

What are the most difficult portions of an economic development
funding package for the borrower to come up with? (please rank using
1 = Most difficult, 3 = Least difficult)
1

2

3

Equity Loan from private lender
Gap financing

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Guarantees/credit enhancements

6

What do you view as the biggest hurdle to borrowers trying to qualify
for economic development financing at your institution?
Borrower's weak financial position
Cost (interest rates, fees, short amortization) of private loan
Subordination of loans
Lack of collateral
Lack of private credit
Lack of public credit
Other (please specify):

7

Does your institution provide any of the following financing products
for economic development projects? (select all that apply)
Gap Financing
Grants
Guarantee
Loans
Letters of Credit
Does Not Provide Economic Development Financing
Other (please specify):

8

What is the annual volume (number of loans and dollar amount of
loans) of economic development lending done by your institution?
Number of
Economic
Development
Loans:
Dollar Amount of
Economic
Development
Loans:

9

Does your institution offer loans or other credit products for the
following types of activities? (select all that apply)
Agribusiness
CDFI Intermediaries
Farms

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Infrastructure
Small Businesses (as defined by SBA or less than 100
employees)
Medium Sized Businesses (100-499 employees)
Large Sized Businesses (500 or more employees)
Social Services
Other (please specify):

10 If yes to question 9, what are the loan maturities? (select all that
apply)
1 year or shorter
From 1 to 5 years
From 5 to 10 years
From 10 to 20 years
Longer than 20 years

11 Please describe the types of economic development initiatives that
you think will be creating demand for long-term financing (maturities of
5 years or more) in your market area in the next five years (e.g.,
evolving industries, small businesses, relocation packages for regional
or national business headquarters, local government expansion).
5

6

12 What types of economic development initiatives have been successful
in your institution's service area; for example, initiatives that have
created jobs, provided new public services, or revitalized a specific
geographical area?
5

6

13 When was the last time that your institution applied for or obtained a
targeted economic development advance, grant or letter of credit from
an FHLBank?
Never applied for an advance, grant, or letter of credit
Within the last year
Within the last 3 years

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Within the last 5 years
Within the last 10 years

14 How many FHLBank targeted economic development advances were
you approved for within the last five years?
Never applied for targeted economic development advances
Less than 5 advances
5 advances to less than 10 advances
10 advances to less than 20 advances
20 or more advances

15 Is there a feature of the FHLBank's targeted economic development
advances program that deters your institution from obtaining these
advances to fund your economic development and small business
credit activities?
Regulation is too confusing
Targeting requirements for use of advances doesn't target the
economic development needs in my service area
Not inclined to use housing assets as collateral for economic
development loans
Don't have sufficient housing assets to collateralize economic
development advances
Paperwork/Documentation
Other (please specify):

16 What economic development needs (e.g., types of industries,
geographic areas, or other) do you think should be targeted for the
use of FHLBank economic development funding?
5

6

17 In your opinion, what would be the characteristics of successful
targeted economic development advances from your FHLBank, that
your institution would be willing and able to access regularly to
support economic development and business financing in your market
area?
5

6

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18 Does your institution qualify as a community financial institution (CFI)
(i.e., assets at or below $1.01 billion?

19 If your institution is a CFI, does your institution have small business,
small farm, agribusiness and other community development
loans/assets to use as collateral for economic development advances
from the FHLBank?

20 Please provide your total assets as of 12/31/09.

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