ALEXANDRIA, Va. – NCUA awarded another five 1% loans from its Community Development Revolving Loan Fund last month, marking a spike in demand for the low-interest loans.
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The fund has now granted 11 loans for almost $4 million in the last two months, after making just two loans for $350,000 in 2008.
Last month’s loans went to: Hope Community FCU ($299,000); Northeast Community FCU ($299,000); Brewery FCU ($299,000); Lower East Side People’s FCU ($150,000) and Morning Star FCU ($50,000).
