Fifty-one percent of the entity must be owned by citizens of the United States or reside in the United States after being legally admitted for permanent residence. Applicants must demonstrate that the management team has the technical, marketing and financial expertise to manage all aspects of the proposed project or program. This program is excluded from coverage under E.O. 12372. Applications must be received on or before the end of each calendar quarter to be considered. Applications not received within the allotted time period will be considered in the next review session.
Funding is made through rural development.
March 31, June 30, September 30, and December 31. Applications submitted, but not funded at a regular Board of Directors review session, may be resubmitted. Applications not funded or carried forward will include a summary stating the reasons. The financial status of the company and the requested amount of funding are analyzed carefully at the time the decision is made to fund the project. If the Board determines the amount of funding to be inappropriate, the figures are adjusted during the final negotiations with the applicants.