106 STAT. 3862 PUBLIC LAW 102-550—OCT. 28, 1992

in the demonstration program, using selection criteria based
on—

(A) the capacity of the eligible organizations to carry
out the purposes of this section;

(B) the range and comprehensiveness of lending,
investment strategies, and development services to be
offered by the organizations directly or through subsidiaries
and affiliates thereof;

(C) the types of activities to be pursued, including
lending and development of small business, agriculture,
industrial, commercial, or residential projects;

(D) the extent of need in the targeted geographic area
to be served;

(E) the experience and background of the principals
at each eligible organization responsible for carrying out
the purposes of this section;

(F) the extent to which the eligible organizations
directly or through subsidiaries and affiliates has success-
fully implemented other revitalization activities;

(G) an appropriate distribution of eligible organizations
among regions of the United States; and

(H) other criteria determined to be appropriate by the
Secretary and consistent with the purposes of this section.

(5) PROGRAM ASSISTANCE.—The Secretary shall—

(A) carry out, in accordance with this section, a pro-
cram to improve access to capital and demonstrate the
feasibility of facilitating the revitalization of targeted
geographic areas by providing assistance to eligible
organizations;

(B) accept applications from eligible organizations; and

(C) select eligible organizations to receive assistance
pursuant to this section.

(6) ACTIVITIES REQUIRED.—All eligible organizations receiv-
ing assistance pursuant to this section are required to engage
in activities that provide access to capital for initiatives which
benefit residents and businesses in targeted geographic areas.

(7) CAPITAL ASSISTANCE.—

(A) IN GENERAL.—

(i) IN GENERAL.—The Secretary shall make grants
and loans to eligible organizations.

(ii) LOANS.—Assistance provided to a depository
institution holding company that is an eligible
organization as denned in paragraph OXDXiXD shall
be in the form of a loan to be repaid to the Secretary.
The terms and conditions of each loan shall be deter-
mined by the Secretary based on the ability of such
entity to repay, except that interest shall accrue at
the current Treasury rate for obligations of comparable
maturity.

(iii) GRANTS OR LOANS.—Assistance provided to an
eligible organization that is a nonprofit organization,
as defined in paragraph OXDXiXII), may be in the
form of a grant or a loan. If an eligible organization
that is a nonprofit organization uses assistance that
it received under this section to provide assistance
to a for-profit entity, the assistance provided by the
nonprofit organization must be in the form of a loan