42 U.S. Code § 13842 - Emerging community development corporation revolving loan funds
The Secretary may award grants to emerging community development corporations to enable such corporations to establish, maintain or expand revolving loan funds, to make or guarantee loans, or to make capital investments in new or expanding local businesses.
The Secretary shall encourage emerging community development corporations that receive grants under this section to seek technical assistance from established community development corporations, with expertise in the planning, development and management of economic development projects and shall facilitate the receipt of such assistance.
Proceeds derived from investments made with amounts provided under this section may be utilized only for the purposes described in this part and shall be reinvested in the community in which they were generated.
Amounts provided under this section to a community development corporation shall not exceed $500,000 per year.
 So in original. Probably should be paragraph “(3)”.
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