Program requirements for MDOs.

CFR · 2024-01-01 · US · Title 7

(a) (1) (2 (i) Citizens of the United States, the Republic of Palau, the Federated States of Micronesia, the Republic of the Marshall Islands, American Samoa, or the Commonwealth of Puerto Rico; or (ii) Legally admitted permanent residents residing in the United States. (3) (4) (i) Has demonstrated experience in the management of a revolving loan fund; or (ii) Certifies that it, or its employees, have received education and training from a qualified microenterprise development training entity so that the applicant has the capacity to manage such a revolving loan fund; (iii) Is actively and successfully participating as an intermediary lender in good standing under similar loan programs; and (iv) Provides an attorney's opinion regarding the potential microlender's legal status and its ability to enter into program transactions at the time of initial entry into the program. Subsequent to acceptance into the program, an attorney's opinion will not be required unless the Agency determines significant changes to the microlender have occurred. (b) (c) (d) (1) Does not meet the definition of an MDO as provided in § 4280.302; (2) Is debarred, suspended or otherwise excluded from, or ineligible for, participation in Federal assistance programs; or (3) Has an outstanding judgment against it, obtained by the United States in a Federal Court (other than U.S. Tax Court). (e) (f) (1) Establish an RMRF, or add capital to an RMRF originally capitalized under this program, and establish or co

official document · source cfr-2024 · id 7:§ 4280.310