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:
(1) Definitions;
(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.