§4712. Capitalization assistance to enhance liquidity — Inbound Citations

Citations to 12 U.S.C. § 4712 as a whole

• 12 U.S.C. § 4704(b)

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  (b) Except as provided in sections 4705 and 4712 of this title, the Fund shall require an application—

  (1) to establish that the applicant is, or will be, a community development financial institution;

  (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 that will not be dependent upon assistance from the Fund for continued viability;

  (B) an analysis of the needs of the investment area or targeted population and a strategy for how the applicant will attempt to meet those needs;

  (C) a plan to coordinate use of assistance from the Fund with existing Federal, State, 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 or targeted population; 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 or targeted populations;

  (3) to include a detailed description of the applicant’s plans and likely sources of funds to match the amount of assistance requested from the Fund;

  (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 or serve a new targeted population, 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 or targeted populations, to demonstrate that the applicant—

  (A) has a record of success in serving investment areas or targeted populations; and

  (B) will expand its operations into a new investment area or to serve a new targeted population, offer more products or services, or increase the volume of its current business; and

  (6) to include such other information as the Fund deems appropriate.
• 12 U.S.C. § 4706(a)

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  (a) Except as provided in section 4712 of this title, the Fund shall, in its sole discretion, select community development financial institution applicants meeting the requirements of section 4704 of this title for assistance based on—

  (1) the likelihood of success of the applicant in meeting the goals of its comprehensive strategic plan;

  (2) the experience and background of the management team;

  (3) the extent of need for equity investments, loans, and development services within the investment areas or targeted populations;

  (4) the extent of economic distress within the investment areas or the extent of need within the targeted populations, as those factors are measured by objective criteria;

  (5) the extent to which the applicant will concentrate its activities on serving its investment areas or targeted populations;

  (6) the amount of firm commitments to meet or exceed the matching requirements and the likely success of the plan for raising the balance of the match;

  (7) the extent to which the matching funds are derived from private sources;

  (8) the extent to which the proposed activities will expand economic opportunities within the investment areas or the targeted populations;

  (9) whether the applicant is, or will become, an insured community development financial institution;

  (10) the extent of support from the investment areas or targeted populations;

  (11) the extent to which the applicant is, or will be, community-owned or community-governed;

  (12) the extent to which the applicant will increase its resources through coordination with other institutions or participation in a secondary market;

  (13) in the case of an applicant with a prior history of serving investment areas or targeted populations, the extent of success in serving them; and

  (14) other factors deemed to be appropriate by the Fund.
• 12 U.S.C. § 4707(b)(2)

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  (2) No assistance made available under this subchapter may be expended by a community development financial institution (or an organization receiving assistance under section 4712 of this title) to pay any person to influence or attempt to influence any agency, elected official, officer, or employee of a State or local government in connection with the making, award, extension, continuation, renewal, amendment, or modification of any State or local government contract, grant, loan, or cooperative agreement (as such terms are defined in section 1352 of title 31).
• 12 U.S.C. § 4711(a)

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  (a) Any dividends on equity investments and proceeds from the disposition of investments, deposits, or credit union shares that are received by the Fund as a result of assistance provided pursuant to section 4707 or 4712 of this title, and any fees received pursuant to section 4708(f) of this title shall be deposited and accredited to an account of the Fund in the United States Treasury (hereafter in this section referred to as “the account”) established to carry out the purpose of this subchapter.
• 12 U.S.C. § 4718(a)(3)

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  (3) Not more than 5 percent of the amounts authorized to be appropriated under paragraph (1) may be used as provided in section 4712 of this title.