Utah Admin. Code R357-44-105 - Lender Eligibility
(1) To be eligible
for participation in the USBCI Capital Access Program, a lender shall:
(a) qualify under federal
guidelines;
(b) demonstrate total
losses to their portfolio under 10% over the last 12 months; and
(c) demonstrate a reasonable expectation that
they will be a responsible steward of public funds and follow both federal and
state rules and regulations.
(2) To be eligible for participation in the
USBCI Loan Participation Program, a financial institution must:
(a) be a CDFI or revolving loan
fund;
(b) demonstrate total losses
to their portfolio of under 10% over the last 12 months; and
(c) demonstrate a reasonable expectation that
they will be a responsible steward of public funds; and
(d) follow both federal and state rules and
regulations.
Notes
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