Community Programs

FHLBank Indianapolis is proud to offer a variety of grant opportunities for affordable housing and economic development initiatives — and we've been doing it since 1990! In just the last 10 years, our Community Investment team has provided nearly $400 million in funding across our grant programs to support affordable housing and economic development initiatives throughout the district.

We've funded the construction of nearly 300 affordable housing projects, totaling more than 11,000 units. Through our Homeownership Initiatives, we've helped more than 2,500 households become first-time homeowners and funded modifications and repairs on over 5,000 homes. And our Elevate Small Business Grant has supported the growth and development of more than 100 local businesses across Indiana and Michigan!

The 2025 Program Updates webinar recording and slide deck are available now on the .GIVES landing page.

Affordable Housing & Community Development

Affordable Housing ProgramProviding crucial gap funding that supports affordable housing development across Indiana and Michigan.

2025 allocation: $29.6M
2025 awards have been announced! Launch – Down Payment AssistanceLaunch provides qualified first-time homebuyers with down payment, closing and housing counseling cost assistance.

2025 allocation: $9.8M
Status: Second Chance Round open now Revive – Home Repair GrantRevive – Home Repair Grant helps qualified homeowners with deferred maintenance repairs and necessary accessibility upgrades.

2025 allocation: $9.8M
Status: Second Chance Round open now HomeBoost – Down Payment AssistanceHomeBoost Down Payment Assistance provides down payment assistance to first-generation homebuyers in Indiana and Michigan.

2025 Allocation: $7.5M
Status: Funds are exhausted Community Impact AdvanceCommunity Impact Advances are a cost-efficient way for FHLBank Indianapolis members to borrow long-term funds to support local economic development

Status: Available now Tribal Nations Housing DevelopmentProviding support and flexible funding opportunities that target the unique needs of the tribal nations in Michigan.

Status: Open now Heirs' PropertyOur initiatives in Indiana and Michigan support data-driven, holistic strategies to prevent and resolve heirs' property issues.

Detroit program allocation: $500,000 Disaster Relief ProgramThe Disaster Relief Program provides assistance to homeowners affected by natural disasters in Indiana and Michigan.

Status: Available Oct. 15 for residents of select Indiana counties Elevate Small Business GrantsOur Elevate Small Business Grant provides grant funds for members to support small business development in their communities.

2025 allocation: $3M
2025 recipients have been announced CDFI Rate Buydown AdvanceThe CDFI Rate Buydown Advance supports the needs of non-depository CDFIs across our district.

Allocation: $5M
Status: Funds are exhausted Community Multiplier – Member Match ProgramMembers can multiply their community impact with matching grants for non-profits engaged in targeted affordable housing initiatives.

2025 allocation: $5M
Status: Program is closed Community Catalyst Training ProgramOur Community Catalyst trainings provide the background knowledge and support members need to get started with affordable housing and community development.

Now a monthly series!
Community Spirit AwardThe Community Spirit Award honors an outstanding individual at one of our member institutions in Indiana and Michigan.

See the 2025 recipients here.

News

Community Investments FHLBank Indianapolis opens Disaster Relief Program for Indiana residents On Oct. 15, 2025, FHLBank Indianapolis opened its Disaster Relief Program to residents of more than 40 Indiana counties impacted by severe storms and flooding earlier this year. The Disaster Relief Program can assist with weather-related home repair and rehabilitation following a declared disaster.

Community Investments Navigating Disaster with FHLBank Indianapolis' Disaster Relief Program When disaster strikes and the systems that keep our communities up and running aren't equipped to handle present circumstances, where do you turn? Read how one community credit union rose to the occasion, stood up new processes and showed up for their community with the Disaster Relief Program.

Community Investments FHLBank Indianapolis celebrates opening of Marvetta & Anthony Grimes Family Center in Indianapolis On Sept. 4, 2025, FHLBank Indianapolis celebrated the grand opening of the Marvetta & Anthony Grimes Family Center, a 36-unit supportive housing project that received a $872,020 Affordable Housing Grant during the Bank's 2024 funding round.

Member Announcements FHLBank Indianapolis announces 2025 Indiana Community Spirit Award winner On Aug. 21, 2025, FHLBank Indianapolis announced Bonnie Arnold, director of community funding development at Martinsville-based Home Bank, was awarded the 2025 Community Spirit Award honoring exceptional contributions to affordable housing and community development in Indiana.

See all articles regarding news about FHLBank Indianapolis.