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Financial Institution Letter |
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Emergency Capital Investment Program Available for
Community Development Financial Institutions and
Minority Depository Institutions
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Summary:
The Federal Deposit Insurance Corporation (FDIC) is advising certified Community Development Financial Institutions (CDFIs) and minority depository institutions (MDIs) of the Emergency Capital Investment Program (ECIP) established by the Consolidated Appropriations Act, 2021. Under the ECIP, certified CDFIs and MDIs may be eligible for capital investments from the U.S. Department of the Treasury (Treasury) 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 Coronavirus Disease 2019 (COVID-19) pandemic.
Statement of Applicability:
This Financial Institution Letter (FIL) applies to any FDIC-supervised financial institution that is a certified CDFI or MDI.
Distribution:
FDIC-Supervised Institutions
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