§ 307.7 Revolving Loan Fund award requirements.

(a) For Eligible Applicants seeking to capitalize or recapitalize an RLF, EDA will review applications for the following, as applicable: (1) Need for a new or expanded public financing tool to: (i) Enhance other business assistance programs and services targeting economic sectors and locations described in the CEDS; or (ii) Provide appropriate support for post-disaster economic recovery efforts in Presidentially Declared Disaster areas; (2) Types of financing activities anticipated; and (3) Capacity of the RLF organization to manage lending activities, create networks between the business community and other financial providers, and implement the CEDS. (b) RLF Grants shall comply with the requirements set forth in this part, as well as relevant provisions of parts 300 through 303, 305, and 314 of this chapter and in the following publications: (1) EDA's RLF Standard Terms and Conditions; and (2) The Compliance Supplement, which is appendix XI to 2 CFR part 200 and is available on the OMB Web site at https://www.whitehouse.gov/omb/circulars_default.