ALEXANDRIA, Va. – The application deadline for the U.S. Treasury Community Development Capital Initiative (CDCI) has been extended to April 30.
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The program, aimed at expanding financial institution lending to small businesses and in low-income areas, invests lower-cost capital in certain financial institutions, including low-income credit unions and the equivalent state-charter designation. To be eligible, the applicant also must file a Secondary Capital Plan that meets the requirements laid out in NCUA Rule 701.34(b)(1).
The deadline for the Secondary Capital Plan is May 10.
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