sources development, and access to capital 
(both debt and equity). 
(J) Level of devastation to local commu-
nity due to Hurricane Katrina. 
(4) GRANT
REQUIREMENTS.—Each grantee 
shall use the grant funds to establish a small busi-
ness incubator program, which shall make the fol-
lowing assistance available (on a shared or unshared 
basis, as the grantee may determine) to businesses 
participating in such program: 
(A) Office space. 
(B) Office equipment, including computers, 
facsimile machines, photocopiers, access to tele-
communications services (including broadband 
services), and manufacturing equipment. 
(C) Administrative and technical staff. 
(D) Training in the areas of marketing, fi-
nancial management, human resources, and 
contracting. 
(E) Assistance in obtaining loans, includ-
ing loans under subsection (c). 
(F) Assistance in locating investors and 
networking with local business organizations. 
(G) Individualized reviews of marketing, fi-
nancial, and business plans, which shall occur
monthly for such period as the Administrator 
may determine and quarterly thereafter. 
(H) Legal, accounting, and marketing 
services. 
(I) Mentoring program with established, 
successful, large businesses to last the duration 
of the business’ stay in the incubator. 
(5) ADDITIONAL ASSISTANCE.—A grantee may 
use grant funds to provide child care services to par-
ticipating business and any other assistance which is 
approved by the Administrator. 
(6) ADDITIONAL PROGRAM REQUIREMENTS.— 
(A) PARTICIPATING
BUSINESSES.—Each 
grantee shall select the businesses which will 
participate in the grantee’s small business incu-
bation program. The grantee shall select busi-
nesses which are not yet well established or 
were established prior to August 28, 2005, and 
have been severely economically damaged and 
which have the potential to be self-sustaining. 
Each grantee shall require participating busi-
nesses to participate in the training described 
in paragraph (4)(D), to submit marketing, fi-
nancial, and business plans and to participate
in the review of such plans described in para-
graph (4)(G). 
(B) COOPERATIVE
AGREEMENTS
WITH 
LENDERS.—Each grantee shall enter into a co-
operative agreement with one or more lenders 
to provide a streamlined process by which par-
ticipating businesses may obtain loans, includ-
ing loans under subsection (c). 
(7) ELIGIBLE ORGANIZATIONS.—For purposes 
of this section, the term ‘‘eligible organization’’ 
means any of the following that are located in a 
Hurricane Katrina-affected area: 
(A) An organization described in section 
501(c)(3) of the Internal Revenue Code of 1986 
and exempt from tax under section 501(a) of 
such Code. 
(B) A business league, chamber of com-
merce, or board of trade described in section 
501(c)(6) of the Internal Revenue Code of 1986 
and exempt from tax under section 501(a) of 
such Code. 
(C) A local development agency that is 
chartered, established, or otherwise sanctioned 
by a State or local government. 
(D) A small business development center.
(E) A college or university. 
(F) A unit of State or local government. 
(9) FEDERAL
COORDINATION.—The Adminis-
trator, in consultation with the Economic Develop-
ment Administration and the Minority Business De-
velopment Agency— 
(A) shall undertake efforts to coordinate 
and enhance Federal programs that relate to 
small business incubation programs; and 
(B) shall invite State and local govern-
ments, lending institutions, and other appro-
priate public and private organizations to serve 
as intermediaries in outreach efforts related to 
small business incubation programs. 
(10) TERMINATION.—The Administrator shall 
not make any new 5-year grants under this sub-
section after the end of the 180-day period begin-
ning on the date that funds are first made available 
to carry out this subsection. 
(11) REPORTS.— 
(A) INITIAL REPORT.—One year after the 
first grant is made under this subsection, the 
Administrator shall transmit to the Congress a 
preliminary report regarding the Gulf Coast In-
cubator 
Revitalization 
Program 
conducted 
under this section. 
(B) FINAL REPORT.—Four years after the 
first grant is made under this subsection, the 
Administrator shall transmit to the Congress a 
final report regarding the Gulf Coast Incubator 
Revitalization Program conducted under this 
section. Such report shall include any rec-
ommendations of the Administrator regarding 
ways to improve such program and the rec-
ommendation of the Administrator as to wheth-
er such program should be extended. 
(12) AUTHORIZATION
OF
APPROPRIATIONS.— 
There are authorized to be appropriated to carry out 
this subsection $25,000,000. 
(c) LOAN PROGRAM.— 
(1) IN
GENERAL.—The Administrator may 
make loans under section 7(a) of the Small Business 
Act (15 U.S.C. 636 (a)) to small business concerns 
participating in a small business incubation program 
described in subsection (b). 
(2) LOAN TERMS.— 
(A) IN GENERAL.—Except as provided in 
subparagraph (B), the rules which apply to 
loans under section 7(a) of the Small Business