My CDFI is seeking clarification as to whether “available” for lending can include existing outstanding loans (i.e. capital currently dedicated to lending), or if it includes uncommitted capital only?
Capital dedicated to lending/investing includes both outstanding loans as well as uncommitted capital. • Added 3/13/09 – If my CDFI has over $50 million in capital dedicated to lending can we decide to apply for the $2.75 MM award. No, you must apply for the award size that matches your organizations capital dedicated to lending. • My CDFI currently has a three-year, $100 million loan pool, so we have $33MM in capital to lend each year. Based on the total amount of capital we have available to lend, which award should my CDFI apply for? For the capital requirement, we will use consolidated financial statements from the applicant as our guide: all debt and equity available for lending/investing that is reflected on the balance sheet can be counted, not just capital for a specific time period.
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