Emergency Capital Investment Program

Under the ECIP, Treasury will provide up to $8.75 billion in capital directly to credit unions, insured depository institutions, and bank or savings and loan holding companies that are certified Community Development Financial Institutions (CDFIs) or minority depository institutions (MDIs) to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities that may be disproportionately impacted by the economic effects of the COVID-19 pandemic. The ECIP is not a grant program. The ECIP is a direct investment program comprising the purchase of preferred stock or subordinated debt instruments from eligible financial institutions.