Final approval as a NMVC Company.

CFR · 2024-01-01 · US · Title 13

(a) (1) Grant final approval to participate in the NMVC program and designate such company as a NMVC Company, if such Conditionally Approved NMVC Company: (i) Within the specific period of time SBA gave to it when SBA conditionally approved it for participation in the NMVC program, has raised: (A) The amount of Regulatory Capital set forth in its application, pursuant to § 108.310(a)(1); and (B) The amount of matching resources for its Operational Assistance grant award set forth in its application, pursuant to § 108.310(a)(2); and (ii) Enters into a Participation Agreement with SBA; or (2) Revoke SBA's conditional approval of the company, at which time it is no longer a Conditionally Approved NMVC Company and must not participate in the NMVC program or represent itself as a Conditionally Approved NMVC Company. (b) (i) Already has raised at least 20 percent of the total amount of required matching resources; and (ii) Has a viable plan that reasonably projects its capacity to raise the remainder of the required amount of matching resources. (2) (3)

official document · source cfr-2024 · id 13:§ 108.380