D.C. Mun. Regs. tit. 26, r. 26-C2910

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 26-C2910 - LOAN PARTICIPATION PROGRAM

2910.1

The Loan Participation Program shall either:

1) purchase participation interests in loans, including principal and interest, made by an Eligible Lender, or

2) lend directly alongside private lenders to certain Eligible Recipients that exhibit shortterm cash flow deficiencies or lack equity or sufficient collateral resources.

2910.2 DISB may purchase up to fifty percent (50%) of the loan amount but no more than one million dollars ($1,000,000). The maximum term of an Enrolled Loan shall not exceed seven (7) years. DISB may purchase participation interests at subsidized interest rates or may assume a subordinated lien position in the event of default.

D.C. Mun. Regs. tit. 26, r. 26-C2910

As amended by Final Rulemaking published at 61 DCR 9181 (September 5, 2014); amended by Final Rulemaking published at 70 DCR 15310 (11/24/2023)