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Title 34, NavyRelease 119-110

§12184 Availability of Lines of Credit and Use

Title 34 › Subtitle I — Comprehensive Acts › CHAPTER 121 — VIOLENT CRIME CONTROL AND LAW ENFORCEMENT › SUBCHAPTER II — CRIME PREVENTION › Part E — National Community Economic Partnership › subpart 1 — community economic partnership investment funds › § 12184

Last updated Sep 22, 2026|Official source

Summary

The Secretary must give an approved community development corporation a line of credit in an amount the Secretary approves, but with limits. No single applicant may get more than $2,000,000. The line can stay available for a period set by the Secretary, but not more than 3 years from when it starts. If a recipient has used its credit well, shows continued need and demand, and meets the requirements of section 12182(b)(2), the line may be increased by up to $1,500,000. Money taken from the line may only be used for the program’s purposes (see section 12181) and only as needed to make loans, investments, or pay admin costs to set up a revolving loan fund. Those revolving funds may give technical help and financial aid—like loans, loan guarantees, interest-reduction help, equity shares, or similar support—to businesses in target areas that meet section 12183(a)(4).

Full Legal Text

Title 34, §12184

Navy, Source: USLM XML via OLRC

(a)Approval of application
The Secretary shall provide a community development corporation that has an application approved under section 12183 of this title with a line of credit in an amount determined appropriate by the Secretary, subject to the limitations contained in subsection (b).
(b)Limitations on availability of amounts
(1)Maximum amount
The Secretary shall not provide in excess of $2,000,000 in lines of credit under this subpart to a single applicant.
(2)Period of availability
A line of credit provided under this subpart shall remain available over a period of time established by the Secretary, but in no event shall any such period of time be in excess of 3 years from the date on which such line of credit is made available.
(3)Exception
Notwithstanding paragraphs (1) and (2), if a recipient of a line of credit under this subpart has made full and productive use of such line of credit, can demonstrate the need and demand for additional assistance, and can meet the requirements of section 12182(b)(2) of this title, the amount of such line of credit may be increased by not more than $1,500,000.
(c)Amounts drawn from line of credit
Amounts drawn from each line of credit under this subpart shall be used solely for the purposes described in section 12181 of this title and shall only be drawn down as needed to provide loans, investments, or to defray administrative costs related to the establishment of a revolving loan fund.
(d)Use of revolving loan funds
Revolving loan funds established with lines of credit provided under this subpart may be used to provide technical assistance to private business enterprises and to provide financial assistance in the form of loans, loan guarantees, interest reduction assistance, equity shares, and other such forms of assistance to business enterprises in target areas and who are in compliance with section 12183(a)(4) of this title.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Codification Section was formerly classified to section 13824 of Title 42, The Public Health and Welfare, prior to editorial reclassification and renumbering as this section.

Reference

Citations & Metadata

Citation

34 U.S.C. § 12184

Title 34, Navy

Last Updated

Sep 22, 2026

Release point: 119-110