Jul
04

WHAT IS Community Reinvestment Act? Can I get cheaper loan?

By
cheap loan

I recieved a letter from a bank that I am qualify for ACT program. Please anyone tell me what does it mean ? Thanks!

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Categories : cheap loan

2 Comments

1

This should help you know more.

2

Yes, if your business is in an area that meets CRA standards, and if the scope of the business targets minorites and low income,

Find out more by going to the CRA site. Banks have to allocate a certain portion of loans to the program for compliance with certain statutes.

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