Emergency Capital Investment Program

Supporting the Efforts of Low- and Moderate-Income Community Financial Institutions

Established by the Consolidated Appropriations Act, 2021, the Emergency Capital Investment Program (ECIP) was created to encourage low- and moderate-income community financial institutions to augment their efforts to support small businesses and consumers in their communities.

Under the program, Treasury will provide up to $9 billion in capital directly to depository institutions that are certified Community Development Financial Institutions (CDFIs) or minority depository institutions (MDIs) to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, that may be disproportionately impacted by the economic effects of the COVID-19 pandemic.  Treasury will set aside $2 billion for CDFIs and MDIs with less than $500 million in assets and an additional $2 billion for CDFIs and MDIs with less than $2 billion in assets.  



Updated (10/18/2021): ECIP Demand Announcement


8/31/2021: Hurricane Ida Impacted ECIP Applicants – Treasury accepting requests for extension to submit applications. Read the Public Notice.


8/11/2021:  The deadline to submit an application under the Emergency Capital Investment Program has been extended until Wednesday, September 1, 2021 at 11:59 PM ET.

8/11/2021:  Treasury announces the publication of revised and expanded guidance documents including: (1) updated application form, (2) Term Sheets, (3) Rate Reduction Incentive Guidelines, (4) Lending Plan Evaluation Factors Guidance, and (5) revised and expanded Frequently Asked Questions. This guidance contains information critical to a successful application and should be reviewed carefully.

Organizations should contact Treasury at ecip@treasury.gov. to request reopening of a previously submitted application or any other service needs. Applicants are strongly encouraged to submit applications at least one business day prior to the deadline (August 31, 2021) to allow time to resolve any submission issues that arise. 


Application Portal

Treasury is currently accepting applications to the ECIP using its application portal below.  The application portal is the only way for eligible low- and moderate-income community financial institutions to apply.  


Read detailed instructions on how to register with ID.me


The Consolidated Appropriations Act, 2021, indicates that the ECIP is intended to support low- and moderate-income communities, minority communities, rural communities, underserved areas, consumers, small businesses, and nonprofit organizations, among others. Treasury will take factors such as these statutory considerations into account when it determines the investment amount that eligible institutions will receive under the ECIP, particularly if the aggregate amounts requested by eligible institutions exceed available program funds. Using information provided in ECIP applications, Treasury will determine a methodology for allocating available funds and determining investment amounts.  Treasury will make its methodology public prior to making any investments under the ECIP.  In addition, Treasury may determine, based on the volume and types of applications that are submitted, to withhold a portion of the available ECIP funds for a subsequent round of investments to be made at a future date.


Application Materials


Term Sheets for Treasury Investments in the ECIP

Depending on the type of applicant and other factors, Treasury’s investment under the ECIP may take the form of senior preferred stock or subordinated debt.


Frequently Asked Questions


Interim Final Rule

As required by law, Treasury issued a rule setting restrictions on executive compensation, share buybacks, and dividend payments for recipients of investments under the ECIP.  Members of the public may submit comments regarding this interim final rule by following the instructions set forth in the rule.

•    ECIP Restrictions on Executive Compensation, Share Buybacks, and Dividends


Contact Us

Technical questions or issues related to the electronic application should be directed to ecip@treasury.gov.  All emails will be answered within one business day.