Emergency Capital Investment Program; Notice of Investment Availability

Samenvatting

This NOIA is published in connection with the Emergency Capital Investment Program (ECIP), administered by the U.S. Department of the Treasury (Treasury). Through this NOIA, Treasury announces the availability of up to approximately $340 million in funding. Established by the Consolidated Appropriations Act, 2021, the ECIP was created to encourage low- and moderate-income community financial institutions to augment their efforts to support small businesses and consumers in their communities. Under the program, Treasury will provide up to $8.7 billion in capital directly to depository institutions that are certified community development financial institutions (CDFIs) or minority depository institutions (MDIs) to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, that may be disproportionately impacted by the economic effects of the COVID-19 pandemic. Treasury previously invested a total of approximately $8.34 billion and may invest up to an additional approximately $340 million. This is the second round of ECIP funding available.