Application Notes:

Applications must be received by 11:59 p.m. ET on May 1, 2024.

The due date for the application has been extended to 11:59 p.m. ET on May 6, 2024. Additional information is included in the DueDateExt file

Applications must be submitted online at www.ecivis.com/grants.gov. Emailed or faxed applications will not be accepted.

Applications must include:

• SF 424
• SF 424A
• SF 424B
• SF LLL
• RD 400-1
• Project proposal
• Work plan
• Budget and budget justification
• Evidence of legal existence
• List of board of directors and officers
• Tax-exempt status documentation
• Audit
• Financial statements
• Additional supporting information

The following are required in order to submit an application:

• Unique Entity Identifier (UEI) number
• SAM (System for Award Management) registration

Applicants may obtain a UEI number and verify or renew SAM registration status at www.ecivis.com/sam.

Applications will be evaluated using the following criteria:

• Degree of expertise and experience in making and servicing commercial loans, with a successful record (30 points)
• Extent to which the work plan demonstrates a well-thought-out, comprehensive approach to accomplishing objectives; clearly defines who will be served by the project; clearly articulates the problems/issues to be addressed; identifies the service area to be covered; and appears likely to be sustainable (40 points)
• Percentage of applicant contributions (20 points)
• Extent to which the goals and objectives are clearly defined, tied to the work plan, and measurable (15 points)
• Lowest ratio of projected administrative expenses to loans advanced (10 points)
• Evaluation methods for considering loan applications (20 points)
• Administrator’s discretion (10 points)

Refer to the NOFA and Guide files for additional application information.

Match Notes:

Applicants must provide at least 20 percent of the total project costs. Matching funds may be from the applicant or a third party. Applicants providing matching contributions in excess of the minimum required will be awarded additional points during the application evaluation process.

In-kind contributions will not be considered.

Funding Notes:

A total of $1 million is anticipated to be available to support awards through this program.

Funding will be provided on a reimbursement basis.

The anticipated award date is September 30, 2024.

Project periods will begin on October 1, 2024, and end on September 30, 2025.

Award recipients will receive funds to establish a lending program for eligible entities. The total amount of loan financing to an eligible entity may not exceed $200,000 or 75 percent of project costs, whichever is less, and must be repaid in a term not to exceed ten years. The interest rate will be determined by the award recipient and approved by the funding agency.

There are no specific limitations for administrative costs; however, applicants will the lowest ratio of administrative expenses to loans advanced will receive additional consideration during the application evaluation process.

Funds may not be used for:

• Application development costs
• Activities which duplicate similar federal efforts or tasks
• Renewal of prior awards

April 23, 2024
An announcement concerning the changing of the due date for the application has been released and attached as the DueDateExt file. The Application section has been updated accordingly.