At enough time that a State relates to the Secretary to possess the Point out money access system authorized as suitable for Federal contributions, the State shall supply towards the Secretary a report stating how the Point out programs to utilize the Federal contributions for the reserve fund to provide entry to cash for tiny businesses in lower- and average-revenue, minority, and other underserved communities, which include Ladies- and minority-owned smaller businesses.

The Secretary may perhaps, while in the Secretary's discretion, transfer the full quantity of the taking part State's allocated amount on the Point out in just one transfer Should the participating Condition relates to the Secretary for acceptance to utilize the entire quantity of the allocation as collateral for a qualifying loan or swap funding facility.

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Any part of a taking part Point out's allocated amount of money which has not been transferred on the Condition beneath this part may be considered through the Secretary to be no longer allocated into the Condition and no longer accessible to the Point out and shall be returned to the overall fund on the Treasury or reallocated as explained less than subparagraph (B), if—

(two) can exhibit a reasonable expectation that, when considered with all other Condition programs of the Point out, these Point out courses collectively have the ability to use amounts of new Federal contributions to, or for the account of, all such applications inside the State to bring about and cause quantities of new little small business lending a minimum of 10 times the new Federal contribution amount of money;

(ii) shall supply assurances into the taking part Point out the loan has not been created in an effort to put underneath the security of the accepted State money accessibility system prior financial debt that isn't lined beneath the accredited Condition money accessibility software and that's or was owed with the borrower to your economical establishment lender or to an affiliate from the monetary establishment lender;

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(II) the loan won't be used to finance these types of company activities as the Secretary, by regulation, may proscribe as prohibited loan uses for enrollment within an authorised Point out capital obtain software; and

Each and every quantity transferred to the collaborating Condition beneath this segment shall continue being accessible to the State until eventually used by the State as permitted below paragraph (3).

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A State other credit rating assistance method authorized underneath this portion will likely be qualified for acquiring Federal contributions to, or for your account of, the Condition method within an quantity in keeping with the routine describing the apportionment of allocated Federal cash among the State plans sent via the Point out towards the Secretary beneath the allocation arrangement.

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