705.1—Scope.
(a)
This part implements the Community Developments Revolving Loan Program for Credit Unions (Program) under the sole administration of the National Credit Union Administration.
(b)
This part establishes the following:
(2)
The application process and requirements for qualifying for a loan under the program;
(3)
How loan funds are to be made available and their repayment; and
(4)
Technical assistance to be provided to participating credit unions.