Section 715.410  Financial Institution Application

Each participating financial institution will be required to submit a lender participation application, which will be submitted to the Treasurer for review and approval. The lender participation application shall contain the following:

a)         narrative on the financial institutions' commitment to low-income communities…and the financial institution's commitment to communities considered disproportionately impacted areas, depressed areas, or enterprise zones as determined, designated, or certified by the Department of Commerce and Economic Opportunity in accordance with any applicable federal law or program; [15 ILCS 516/30-20]

b)         certification that the business for which the guarantee is being allocated is located in a low-income community in the State of Illinois, is in good standing with the Illinois Secretary of State, and is not in arrears with the Illinois Department of Revenue; and

c)         such other information that the Treasurer deems useful in administering the Program.