Section 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.Utah Admin. Code R357-44-105
Adopted by Utah State Bulletin Number 2022-22, effective 10/27/2022