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§ 4290.210 - Minimum capital requirements for RBICs.

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General Rule. Unless otherwise specified in a Federal Register notice, you must have Regulatory Capital of at least $10,000,000, or such lesser amount (but not less than $5,000,000) and Leverageable Capital of at least $500,000, to become a RBIC.

Exception. (1) The Secretary in his or her sole discretion and based on a showing of special circumstances and good cause may license an Applicant with Regulatory Capital of at least $2,500,000, but only if the Applicant:

Has satisfied all eligibility criteria for licensing as a RBIC as described in § 4290.390(a) of this part, except the capital requirement specified in paragraph (a)(1) of that section, as determined solely by the Secretary;

Has a viable business plan reasonably projecting profitable operations; and

Has a reasonable timetable for achieving Regulatory Capital of at least $10,000,000.

A RBIC licensed under this exception is not eligible to receive Leverage until it has complied with paragraph (a) of this section.

Time frame. Each RBIC shall have a period of 2 years to meet the capital requirements set forth in this section.

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§ 4290.200 - Adequate capital for RBICs.
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§ 4290.230 - Private Capital for RBICs.