; and (bb) meets the applicable criteria for authorizing lenders to make loans guaranteed under this subsection; and (II) the term low or moderate-income neighborhood means a neighborhood that is a low-income neighborhood or a moderate-income neighborhood, for the purposes of the Community Reinvestment Act of 1977 ( 12 U.S.C. 2901 et seq. ). (ii) Initiative (I) In general The Administrator, acting through the Office of Credit Risk Management, shall carry out an initiative to authorize covered Non-Federally Regulated Lenders to make loans guaranteed under this subsection that is targeted to expanding the availability of loans guaranteed under this subsection to small business concerns that are located in a low or moderate-income neighborhood. (II) Authority Under the initiative under subclause (I), the Administrator may not approve a covered Non-Federally Regulated Lender to only be eligible to make loans guaranteed under the Community Advantage Pilot Program of the Administration. (III) Lenders A covered Non-Federally Regulated Lender that becomes authorized to make loans guaranteed under this subsection under the initiative under subclause (I) shall ensure that not less than 50 percent of the loans made by the covered Non-Federally Regulated Lender that are guaranteed under this subsection are made to small business concerns that are located in a low or moderate-income neighborhood. (iii) Funding For fiscal year 2023, and each fiscal year thereafter, there is appropriated to the Administrator, out of any money in the Treasury not otherwise appropriated, such sums as are necessary to carry out the initiative under clause (ii). .