2910. LOAN PARTICIPATION PROGRAM

2910 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 short-term 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. SOURCE: Final Rulemaking published at 61 DCR 9181 (September 5, 2014); as amended by Final Rulemaking published at 70 DCR 015310 (November 24, 2023). District of Columbia Municipal Regulations Banking and Financial Institutions 26-C DCMR § 2910