Notes to SEFA
CAP Services, Inc. did not have any subrecipients or subrecipient expenditures during the year ended December 31, 2025.
The loan programs listed subsequently are administered directly by CAP Services, Inc., and balances and transactions relating to these programs are included in CAP Services, Inc.'s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2025, consists of: AL Outstanding Balance Program Name Number at December 31, 2025 Southtown Terrace, Wautoma 10.415 $435,923 Bird Creek 2, Wautoma 10.415 157,538 Total $593,461