Disaster Recovery Grant Programs

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The Federal Home Loan Bank of New York (FHLBNY) is offering two Disaster Recovery Grant Programs, the Homeowner Recovery Grant and the Small Business Recovery Grant, which may be available through the following stock-holding FHLBNY Member Institutions in Puerto Rico and the U.S. Virgin Islands: 

  • Banco Popular de Puerto Rico
  • Banco Santander Puerto Rico
  • Caribe Federal Credit Union
  • FirstBank Puerto Rico
  • Merchants Commercial Bank
  • Oriental Bank
  • Scotiabank de Puerto Rico

These programs will be administered and marketed by the participating Members of the FHLBNY and are intended to assist homeowners and small businesses in Puerto Rico and the U.S. Virgin Islands that sustained damage as a direct result of Hurricanes Irma and Maria in September 2017. All applications submitted to FHLBNY must be through a participating Member.  The Member is solely responsible for collecting, verifying and retaining the documentation that supports the eligibility of the applicants and compliance with the Program Guidelines. 

Members are required to submit the Disaster Recovery Grant Programs Member Acknowledgement form executed by a senior officer of the Member institution prior to submission of applications to FHLBNY.

In addition to the Disaster Recovery Grant Programs, the FHLBNY provides Disaster Relief Funding, which offers discounted advance rates to Members.

Below please find links to download the program guidelines and forms.

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GUIDELINES & FORMS

The following Program Guidelines and corresponding forms will help guide participating Members in administering these programs:

DRP Guidelines                    Disaster Recovery Grant Programs – Member Guidelines

DRP Acknowledgement         Disaster Recovery Grant Programs Member Acknowledgement Formwhitespace

Homeowner Recovery Grant (HRG)

DRP-101                              Homeowner Recovery Grant: Application and Funding Request Form

DRP-102                              Homeowner Recovery Grant: Income Calculation Worksheetwhitespace

Small Business Recovery Grant (SBRG)

DRP-103                              Small Business Recovery Grant: Application and Funding Request Form