1. (1) To be eligible for participation in the USBCI Capital Access Program, a lender shall:

   1. (a) qualify under federal guidelines;
   2. (b) demonstrate total losses to their portfolio under 10% over the last 12 months; and
   3. (c) demonstrate a reasonable expectation that they will be a responsible steward of public funds and follow both federal and state rules and regulations.

2. (2) To be eligible for participation in the USBCI Loan Participation Program, a financial institution must:

   1. (a) be a CDFI or revolving loan fund;
   2. (b) demonstrate total losses to their portfolio of under 10% over the last 12 months; and
   3. (c) demonstrate a reasonable expectation that they will be a responsible steward of public funds; and
   4. (d) follow both federal and state rules and regulations.

KEY: small business credit initiative, small business

Date of Last Change: October 27, 2022

Authorizing, and Implemented or Interpreted Law: 63N-3-802