Private Capital for RBICs.

CFR · 2024-01-01 · US · Title 7

(a) (b) (c) (1) Funds borrowed by an Applicant or a RBIC from any source. (2) Funds obtained through the issuance of Leverage. (3) Funds obtained directly or indirectly from the Federal government or any State (including by a political subdivision, agency or instrumentality of the Federal government or a State), except that the following categories of such funds are not excluded from Private Capital— (i) Funds obtained directly or indirectly from the business revenues (excluding any governmental appropriation) of any federally-chartered or government-sponsored enterprise established prior to May 13, 2002; (ii) Funds invested by an employee welfare benefit plan or pension plan; and (iii) Qualified Non-private Funds in an amount not to exceed 33 percent of the total Private Capital of any Applicant or RBIC, (4) Any portion of an unfunded commitment from an Institutional Investor with a net worth of less than $10 million that exceeds 10 percent of such Institutional Investor's net worth. (5) An unfunded commitment from an investor if the Agency determines that the collectability of the commitment is questionable. (d) (e) (1) Such Person's net worth is at least twice the amount borrowed; or (2) The Agency gives its prior written approval of the capital contribution.

official document · source cfr-2024 · id 7:§ 4290.230