Revolving Loan Fund Income requirements during the Revolving Phase; payments on defaulted and written off Revolving Loan Fund loans; Voluntarily Contributed Capital.

CFR · 2024-01-01 · US · Title 13

(a) (1) Such RLF Income is earned and the administrative costs are accrued in the same fiscal year of the RLF Recipient; (2) RLF Income earned, but not used for administrative costs during the same fiscal year of the RLF Recipient is made available for lending activities; (3) RLF Income shall not be withdrawn from the RLF Capital Base in a subsequent fiscal year for any purpose other than lending without the prior written consent of EDA; and (4) An RLF Recipient shall not use funds in excess of RLF Income for administrative costs unless directed otherwise in writing by EDA. In accordance with EDA's RLF Risk Analysis System, RLF Recipients are expected to keep administrative costs to a minimum in order to maintain the RLF Capital Base. The percentage of RLF Income used for administrative expenses will be one of the measures used in EDA's RLF Risk Analysis System to evaluate RLF Recipients. (b) (1) (2) (i) 2 CFR part 225 (OMB Circular A-87 for State, local, and Indian tribal governments), (ii) 2 CFR part 230 (OMB Circular A-122 for non-profit organizations other than institutions of higher education, hospitals or organizations named in OMB Circular A-122 as not subject to such Circular), and (iii) 2 CFR part 220 (OMB Circular A-21 for educational institutions). (3) (c) (1) (2) (3) (4) (d)

official document · source cfr-2024 · id 13:§ 307.12