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In previous years, the loans under the CDRLF had an upper limit of USD300,000, but last year the NCUA board approved a new rule allowing the extension of single loans that could exceed this amount.
Applications for CDRLF loans will be accepted by the end of 2012 or until the exhaustion of the funds.
As part of the 2012 CDRLF funding round, the NCUA prioritized grants for financial literacy and education in school branches; new product and service development; staff, official, and board member training; student and job creation internships; and volunteer income tax assistance.
Previously, CDRLF provided loans up to $300,000, but a new rule adopted by the NCUA board last year now allows loans to exceed that amount.
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