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The CDFI Bond Guarantee Program was established through the Small Business Jobs Act of 2010, passed by Congress and signed into law by the President on September 27, 2010 (Public Law 111-240). Sections 1134 and 1703 of the Small Business Jobs Act provide authority to the Secretary of the Department of the Treasury to establish and administer the program. This program is administered by the Community Development Financial Institutions Fund (CDFI Fund), an office within the U.S. Department of the Treasury. Section 114A authorizes the Secretary of the Treasury to guarantee the full amount of notes or bonds, including the principal, interest, and call premiums not to exceed 30 years, issued by CDFIs to finance loans for eligible community or economic development purposes. The bonds or notes support CDFI lending and investment by providing a source of long-term, patient capital to CDFIs. In accordance with Federal credit policy, the Federal Financing Bank (FFB) purchases the bonds or notes for issuance by CDFIs under the program. The interim rule established the requirements and parameters for program implementation and administration including, among others, applicant eligibility, application requirements, application review, selection criteria, guarantee/loan agreements, eligible uses of bond proceeds, reporting obligations, and compliance monitoring.