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The Treasury Department released revised guidance on its Emergency Capital Investment Program to support minority and community development financial institutions.
Background: The ECIP will invest $9 billion in MDIs and CDFIs to support low- and moderate-income and minority communities.
Resources: The new resources include an updated application form, term sheets, rate reduction incentive guidelines, lending plan evaluation factors guidance, and revised frequently asked questions.
Deadline: Treasury also extended the application deadline to 11:59 p.m. (Eastern time) Wednesday, Sept. 1.