Southern University at New Orleans - June 2007 - $44,000,000

• Program financed new student housing facility
• A pledge of net revenues of the Southern University of New Orleans Student Housing System
• 30-year variable rate financing capped at 1 percent

Tougaloo College - June 2007 - $28,560,000

• Program loan:
  • Refinancing of outstanding indebtedness
  • Renovation of existing facilities
  • Modernization of campus facilities
• General obligation of the university, secured by mortgages, lien on all revenue
• 30-year variable rate financing capped at 1 percent

Xavier University - June 2007 - $165,000,000

• Program loan:
• Refinancing of outstanding indebtedness
• Renovation of existing facilities
• Reimbursement to borrower for eligible remediation and rehabilitation outlays
• General obligation of the university, secured by mortgages, lien on all revenue, portion of endowment
• 30-year variable rate financing capped at 1 percent

Dillard University - June 2007 - $160,000,000

• Program loan:
  • Refinancing of outstanding indebtedness
  • Renovation of existing facilities
  • Construction of science and professional schools building
  • Reimbursement to borrower for eligible remediation and rehabilitation outlays
• General obligation of the university, secured by mortgages, lien on all revenue, portion of endowment
• 30-year variable rate financing capped at 1 percent

Allen University - June 2007 - $19,000,000

• Program financed new student housing facility and residence hall improvements
• Secured by general obligation of the university on parity with existing creditors, net revenue pledge of entire student housing and a first mortgage on 5 buildings
• 30-year variable rate financing with a cap

Tuskegee University - May 2007 - $28,000,000

• Program loan:
  • Renovation of existing facilities
  • Modernization of campus facilities
• Revenue of mortgaged facilities
• General obligation of the university, secured by mortgages, lien on all revenue
• 30-year fixed rate financing

Clark-Atlanta University – May 2007 - $20,000,000

• Program loan:
  • Renovation of existing facilities
  • Modernization of campus facilities
• Secured by general obligation of the university, pledge of all revenue and mortgages
• 30-year fixed rate financing

Harris Stowe State University - June 2006 - $15,500,000

• Program financed new student housing facility
• Secured all student housing revenue
• 30-year fixed rate financing

South Carolina State University - June 2005 - $42,000,000

• Program financed new 780 bed student housing facility
• Also refinanced existing student housing revenue bonds
• Secured by net revenue pledge of entire student housing revenue system
• 30-year fixed rate financing

Miles College - July 2004 - $7,835,000

• Program financed new men's dormitory
• Financing structured in conjunction with bank loan on other college projects, requiring management of inter-creditor issues, including security and parity debt
• Secured by general obligation of the college, lien on revenues of the student housing facility and mortgage
• 30-year fixed rate financing

Tuskegee University - February 2004 - $12,056,000

• Refinanced taxable bond issue used to finance the university's Kellogg Conference Center
• Provided substantial debt service savings which created ability to finance an additional $1.2 million of renovation projects
• Secured by general obligation of the university and a mortgage on the conference center
• Structured as 23-year financing with $2 million deferred principal variable rate financing

Shaw University - January 2004 - $10,015,000

• First loan structured on a 100 percent variable rate basis
• Program loan:
  • Refinanced bond issue which had a balloon provision
  • Refinanced a note on a satellite campus
  • Refinanced an existing Department of Education mortgage
  • Provided small amount of new money
• Secured by general obligation of the university, pledge of all revenues and mortgages
• 20-year variable rate financing

Clark-Atlanta University - November 2003 - $23,905,000

• First financing to include a variable rate component
• Financing structured primarily to offer substantial debt service savings
• Secured by general obligation of the university, pledge of all revenue and mortgages
• Fixed rate loan portion structured consistent with term of refinanced bonds through 2015; variable rate loan portion amortizes through 2020

Livingstone College - November 2003 - $12,000,000 and November 2001 - $1,000,000

• Projects included:
  • Refinancing ($7.00 million)
  • Student housing renovation
  • Administrative/classroom renovation
• General obligation of the college, secured by mortgage and lien on all revenues
• 17-year fixed rate on financing; 30 year fixed rate on new projects financing

Virginia Union University - April 2002 - $8,218,000

• Loan included:
  • Refinancing
  • HVAC upgrades
  • Building Renovations
• Loan secured by general obligation of the university, a first lien on revenues and a mortgage
• 30-year fixed rate financing

Tuskegee University - March 2002 - $23,875,000

• Provided financing for:
  • Campus infrastructure projects
  • Residence hall improvements
• Loan secured by general obligation of the university, a first lien on certain student housing revenues and mortgages
• 30-year fixed rate financing

Bennett College - July 2001 - $8,700,000

• First financing completed by Commerce Capital Access Program Corporation
• Project included:
  • Refinancing
  • Storm drainage
  • Network/telephone upgrades
  • Roof repair
• General obligation of the college, secured by mortgage and lien on all revenue
• 30-year fixed rate financing

Barber-Scotia College - December 2000 - $7,000,000

• Last financing completed by Eddie Mac
• Financed renovation of Faith Hall, a 23,000 square foot student housing facility
• General obligation of the college, secured by a mortgage and lien on all revenue
• 30-year fixed rate financing

Lincoln University - October 1999 - $13,850,000

• Loan retired through a refinancing by Aaa/AAinsured tax-exempt bond issue in 2004
• Project included:
  • Refinancing and renovation of the university's Urban Center in Philadelphia
  • Deferred campus maintenance and computer software and hardware upgrades
• General obligation of the university, secured by a mortgage on the Urban Center
• 25-year fixed rate financing for the Urban Center; 15-year fixed rate for the deferred maintenance

Bethune-Cookman College - May 1999 - $15,500,000

• Project included:
  • Student center
  • Auditorium
  • Mass communications building
• Loan secured by general obligation of the college, lien on all revenues and a mortgage
• 30-year fixed rate financing

Tougaloo College - May 1999 - $8,200,000

• Project included:
  • Four new student housing facilities
  • Furniture purchase
  • Refinancing of lease for HVAC system
• Loan secured by general obligation of the college, pledge of net revenues of the financed dormitories and a mortgage
• 10-year fixed rate refinancing
• 30-year fixed rate new project financing

Bethune-Cookman College - July 1997 - $4,795,000

• Provided financing for a new 200 bed student housing facility
• Loan secured by general obligation of the college, pledge of net revenues and covenant to maintain minimum level of unrestricted net assets equal to 150% of debt
• 30-year fixed rate financing

West Virginia State College - September 1996 - $3,500,000

• First HBCU Program loan
• Program financed renovation of student housing
• Loan secured by pledge of net revenues and negative pledge on the student housing system
• 30-year fixed rate financing