Community Development Loan
2 definitions

Community Development Loan

A loan that;

  1. Has as its primary purpose community development; and
  2. Except in the case of a wholesale or limited purpose bank:

(i) Has not been reported or collected by the bank or an affiliate for consideration in the bank's assessment as a home mortgage, small business, small farm, or consumer loan, unless it is a multifamily dwelling loan (as described in Appendix A to Part 203 of this title); and
(ii) Benefits the bank's assessment area(s) or a broader statewide or regional area that includes the bank's assessment area(s).

Community Development Loan

A loan that: (1) Has as its primary purpose community development; and (2) Except in the case of a wholesale or limited purpose bank: (i) Has not been reported or collected by the bank or an affiliate for consideration in the bank's assessment as a home mortgage, small business, small farm, or consumer loan, unless it is a multifamily dwelling loan (as described in Appendix A to Part 203 of this chapter); and (ii) Benefits the bank's assessment area(s) or a broader statewide or regional area that includes the bank's assessment area(s).

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About this term

Community Development Loan has been defined 2 different ways in documents like Community Reinvestment Act Performance Ratings, CRA Glossary.

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