---
kind: "section"
citation: "12 U.S.C. § 4704"
title: "12"
title_heading: "Banks and Banking"
number: "4704"
heading: "Applications for assistance"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/4704"
units:
  - "Chapter 47 — Community Development Banking"
  - "Subchapter I — Community Development Banking and Financial Institutions"
---

# §4704. Applications for assistance

- (a) **Form and procedures—** An application for assistance under this subchapter shall be submitted in such form and in accordance with such procedures as the [Fund](/usc/12/4702.md?p=10) shall establish.
- (b) **Minimum requirements—** Except as provided in sections [4705](/usc/12/4705.md) and [4712](/usc/12/4712.md) of this title, the [Fund](/usc/12/4702.md?p=10) shall require an application—
  - (1) to establish that the applicant is, or will be, a [community development financial institution](/usc/12/4702.md?p=5-A);
  - (2) to include a comprehensive strategic plan for the organization that contains—
    - (A) a business plan of not less than 5 years in duration that demonstrates that the applicant will be properly managed and will have the capacity to operate as a [community development financial institution](/usc/12/4702.md?p=5-A) that will not be dependent upon assistance from the [Fund](/usc/12/4702.md?p=10) for continued viability;
    - (B) an analysis of the needs of the [investment area](/usc/12/4702.md?p=16) or [targeted population](/usc/12/4702.md?p=20) and a strategy for how the applicant will attempt to meet those needs;
    - (C) a plan to coordinate use of assistance from the [Fund](/usc/12/4702.md?p=10) with existing Federal, [State](/usc/12/4702.md?p=18), local, and tribal government assistance programs, and private sector financial services;
    - (D) an explanation of how the proposed activities of the applicant are consistent with existing economic, community, and housing development plans adopted by or applicable to an [investment area](/usc/12/4702.md?p=16) or [targeted population](/usc/12/4702.md?p=20); and
    - (E) a description of how the applicant will coordinate with community organizations and financial institutions which will provide equity investments, loans, secondary markets, or other services to [investment areas](/usc/12/4702.md?p=16) or [targeted populations](/usc/12/4702.md?p=20);
  - (3) to include a detailed description of the applicant’s plans and likely sources of [funds](/usc/12/4702.md?p=10) to match the amount of assistance requested from the [Fund](/usc/12/4702.md?p=10);
  - (4) in the case of an applicant that has previously received assistance under this subchapter, to demonstrate that the applicant—
    - (A) has substantially met its performance goals and otherwise carried out its responsibilities under this subchapter and the assistance agreement; and
    - (B) will expand its operations into a new [investment area](/usc/12/4702.md?p=16) or serve a new [targeted population](/usc/12/4702.md?p=20), offer more products or services, or increase the volume of its business;
  - (5) in the case of an applicant with a prior history of serving [investment areas](/usc/12/4702.md?p=16) or [targeted populations](/usc/12/4702.md?p=20), to demonstrate that the applicant—
    - (A) has a record of success in serving [investment areas](/usc/12/4702.md?p=16) or [targeted populations](/usc/12/4702.md?p=20); and
    - (B) will expand its operations into a new [investment area](/usc/12/4702.md?p=16) or to serve a new [targeted population](/usc/12/4702.md?p=20), offer more products or services, or increase the volume of its current business; and
  - (6) to include such other information as the [Fund](/usc/12/4702.md?p=10) deems appropriate.
- (c) **Preapplication outreach program—** The [Fund](/usc/12/4702.md?p=10) shall provide an outreach program to identify and provide information to potential applicants and may provide technical assistance to potential applicants, but shall not assist in the preparation of any application.

## Source credit

(Pub. L. 103–325, title I, § 105, Sept. 23, 1994, 108 Stat. 2170.)