small dollar loan program

(2) the term “small dollar loan program” means a loan program wherein a community development financial institution or any partnership between or among such institutions offers loans to consumers that— (A) are made in amounts not exceeding $2,500; (B) must be repaid in installments; (C) have no pre-payment penalty; (D) the institution has to report payments regarding the loan to at least 1 of the consumer reporting agencies that compiles and maintains files on consumers on a nationwide basis; and (E) meet any other affordability requirements as may be established by the Administrator.


12 USC § 4719(c)(2)

Scoping language

For purposes of this section
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