Business and Industry Guaranteed and Direct Loans, Rural Business Development Grants, and Intermediary Relending Program.

CFR · 2024-01-01 · US · Title 7

The Agency will allocate funds to the States each Federal fiscal year for the programs identified in this section using the procedures specified in paragraph (a) of this section. If the Agency determines that it will not allocate funds to the States for a program identified in this section in a particular Federal fiscal year, the Agency will announce this decision in a notice published in the (a) (1) (2) (i) The criteria used in the basic formula are: (A) State's percentage of national rural population. (B) State's percentage of national rural population with incomes below the poverty level. (C) State's percentage of national nonmetropolitan unemployment. (ii) The data sources for each of the criteria identified in paragraph (a) of this section are: (A) For the criterion specified in paragraph (a)(2)(i)(A), the most recent decennial Census data. (B) For the criterion specified in paragraph (a)(2)(i)(B), 5-year income data from the American Community Survey (ACS) or, if needed, other Census Bureau data. (C) For the criterion specified in paragraph (a)(2)(i)(C), the most recent Bureau of Labor Statistics data. (iii) Each criterion is assigned a specific weight factor according to its relevance in determining need. The percentage representing each criterion is multiplied by the weight factor and summed to arrive at State Factor (SF). The SF cannot exceed 0.05. The Agency may elect to use different weight factors than those identified in this paragraph by publishing a timely noti

official document · source cfr-2024 · id 7:§ 1940.588