Re-lending.

CFR · 2024-01-01 · US · Title 7

The provisions in this section establish the process by which the Agency may make loans to eligible re-lenders who then in turn re-loan the funds to eligible applicants for eligible projects under this subpart. This section may be supplemented by provisions in annual notices published in the (a) (1) Demonstrate the legal authority necessary to make and service loans involving community infrastructure and development similar to the type of projects listed in § 1942.17(d); (2) Meet federal, state and local requirements in accordance with § 1942.17(k); (3) As specified in the annual (4) Agree to provide adequate collateral, as determined by the Agency, to support the loan request; (5) Provide a Letter of Intent from a financial institution that an Irrevocable Letter of Credit (or performance guarantee) acceptable to the Agency will be issued by the financial institution if the Re-lender is approved for funding; (6) As specified in the annual (7) Demonstrate one of the following, as provided in the annual (i) Re-lender is regulated and supervised by a Federal or State Banking Regulatory Agency that is subject to credit examination, AND the institution, its subsidiaries, holding companies, and affiliates are not on their respective regulatory agency's watch list and have no regulatory actions outstanding against them; (ii) Re-lender has a strong Financial Strength and Performance Rating as specified in the annual (iii) At the time of application, Re-lender provides written documen

official document · source cfr-2024 · id 7:§ 1942.30