§ 108.2002. Eligibility of SSBICs to apply for Operational Assistance grants.
123 words·~1 min read·
/us/cfr/t13/s§ 108.2002A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An SSBIC is eligible to apply for an Operational Assistance grant if:
(a)It intends to increase its Regulatory Capital, as in effect on December 21, 2000, and to make Low-Income Investments in the amount of such increase;
(b)It intends to raise binding commitments for contributions in cash or in-kind, and/or to purchase an annuity, in an amount not less than 30 percent of the intended increase in its Regulatory Capital described in paragraph
(a)of this section; and
(c)It has a plan describing how it intends to use the requested grant funds to provide Operational Assistance to Smaller Enterprises in which it has made or expects to make Low-Income Investments after December 21, 2000. \[67 FR 68503, Nov. 12, 2002\]