12 U.S.C. § 4706: Selection of institutions

the likelihood of success of the applicant in meeting the goals of its comprehensive strategic plan; the experience and background of the management team; the extent of need for equity investments, loans, and development services within the investment areas or targeted populations; the extent of economic distress within the investment areas or the extent of need within the targeted populations, as those factors are measured by objective criteria; the extent to which the applicant will concentrate its activities on serving its investment areas or targeted populations; the amount of firm commitments to meet or exceed the matching requirements and the likely success of the plan for raising the balance of the match; the extent to which the matching funds are derived from private sources; the extent to which the proposed activities will expand economic opportunities within the investment areas or the targeted populations; whether the applicant is, or will become, an insured community development financial institution; the extent of support from the investment areas or targeted populations; the extent to which the applicant is, or will be, community-owned or community-governed; the extent to which the applicant will increase its resources through coordination with other institutions or participation in a secondary market; in the case of an applicant with a prior history of serving investment areas or targeted populations, the extent of success in serving them; and other factors deemed to be appropriate by the Fund. In selecting applicants for assistance, the Fund shall seek to fund a geographically diverse group of applicants, which shall include applicants from metropolitan, nonmetropolitan, and rural areas.