Section 26-C2911. ELIGIBLE LENDERS -- LOAN PARTICIPATION PROGRAM

 

2911.1  An Eligible Lender for the Loan Participation Program shall be:

 

(a) A federally insured commercial lender;

 

(b) A federally insured credit union; or

 

(c) A Community Development Financial Institution.

 

2911.2An Eligible Lender shall enroll in the Loan Participation Program by providing to DISB:

 

(a) A signed State Small Business Credit Initiative Participation Agreement with DISB;

 

(b) A certification that it is in compliance with the requirements of 31 C.F.R. § 1020.220;

 

(c) A certification that, consistent with OMB Circular A-129, it has at least twenty percent (20%) of its own capital at risk in any loan enrolled in the District SSBCI Programs, unless a waiver is granted;

 

(d) A certification that no principal of the lender has been convicted of a sex offense against a minor as such term is defined in Section 111 of the Sex Offender Registration and Notification Act (42 U.S.C. § 16911); and

 

(e) Any other document necessary for the administration of the District SSBCI Programs or for compliance with the U.S. Treasury’s SSBCI. 

 

 

authority

Section 105(c) of the 21st Century Financial Modernization Act of 2000, effective June 9, 2001 (D.C. Law 13-308; D.C. Official Code § 26-551.05(c) (2012 Repl.)).

source

Final Rulemaking published at 61 DCR 9181 (September 5, 2014).