ECIP Applicant Notification Letter

DRAFT

DEPARTMENT OF THE TREASURY

WASHINGTON, D.C.

December 14, 2021

U.S. Department of the Treasury

Emergency Capital Investment Program

1500 Pennsylvania Avenue NW

Washington, DC 20220

ATTN: [CEO Name]

Chief Executive Officer

[CFO Name]

Chief Financial Officer

[Applicant’s Name]

[Applicant’s Street Address]

[Applicant’s City], [Applicant State] [Applicant Zip Code]

Dear [CEO name] and [CFO Name]:

We are pleased to inform you that Treasury has reviewed the Emergency Capital Investment Program (ECIP) application ([EC-xxxx]) submitted by [Applicant’s Name] (Applicant) and has determined that the Applicant is eligible to participate in the ECIP. Upon the complete execution of investment and program documentation by the Applicant and Treasury, the Applicant may receive an ECIP investment in an amount up to [Investment Amount].

Institutions will have 30 days from the publication of final closing documents on the Treasury website to confirm their intent to participate in ECIP and the amount of senior preferred stock or subordinated debt the awardee proposes to issue to Treasury during the closing process.  The Applicant may notify Treasury at any time prior to closing of the investment that it has decided not to participate. The Applicant may also request an investment amount lower than the amount noted above.

To notify Treasury that the Applicant intends to participate in the ECIP, please respond as directed in the ECIP Portal. The chief executive officer or chief financial officer of the Applicant must submit the requested information by providing their electronic signature, title, and date. You will need to provide the following information:

1. Confirmation of intent to proceed with an investment from the ECIP;

2. The requested investment amount, not to exceed the amount noted above; and

3. The name and contact information for your institution’s primary contact for the closing process, which may be an individual from your institution or your legal counsel.

Once the Applicant has notified Treasury of its intent to participate in the ECIP, Treasury will work with the Applicant to prepare for the closing, including scheduling a closing date. To receive an investment under the ECIP, the Applicant will be required to fulfill certain closing conditions and may be required to submit additional documentation to Treasury, including to supplement information provided as part of Applicant’s Emergency Investment Lending Plan.

ECIP eligibility is determined under section 104A of the Community Development Banking and Financial Institutions Act of 1994, 12 U.S.C. § 4703a, and the Application Materials and Instructions published to the ECIP website at: https://home.treasury.gov/policy-issues/coronavirus/assistance-for-small-businesses/emergency-capital-investment-program.

If you have any questions, you may contact [email protected].

Thank you for your interest in the Emergency Capital Investment Program.

Sincerely,

Noel A. Poyo

Deputy Assistant Secretary

Community & Economic Development