Alternative Test: Targeted Populations

• Alternatively, if a Borrower or a project is not predominantly located in a “Low-Income Community,” it can be deemed to be in a “Low-Income Community” if it otherwise benefits “Targeted Populations” (such as “Low-Income Persons” or persons who otherwise lack adequate access to loans or equity investments, such as minorities, women and veterans).
• A “Low-Income Persons” is an individual whose family income (adjusted for family size) is not more than:
  • for metropolitan areas, 80% of the area median family income, or
  • for non-metropolitan areas, the greater of 80% of (x) the area median family income, or (y) the statewide non-metropolitan area median family income.
• As described later, under “Substantial Community Impact,” Targeted Populations are also considered part of the determination of the degree of community impact (such as being as customers, patients, and employees etc.).