(ii) such increase was consistent with 
the purpose of locating eligible jobs in eco-
nomic development districts or targeted 
labor surplus areas; and 
(iii) the eligible entity has not re-
duced, during the first year of the loan, 
the number of full-time equivalent employ-
ees who are employed in eligible jobs out-
side the economic development district or 
targeted labor surplus area— 
(I) in the State; and 
(II) in other States. 
(B) FINAL
CERTIFICATION.—Not earlier 
than the 720th day of a loan under this sub-
section and not later than the 730th day of 
such loan, the eligible entity awarded the loan 
shall certify to the satisfaction of the eligible 
intermediary that— 
(i) the eligible entity did not reduce, 
during the second year of the loan, the 
number of full-time equivalent employees 
employed by the eligible entity in an eligi-
ble job in an economic development district 
or a targeted labor surplus area; and 
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(ii) the eligible entity has not reduced, 
during the second year of the loan, the 
number of full-time equivalent employees 
who are employed in eligible jobs outside 
the economic development district or tar-
geted labor surplus area— 
(I) in the State; and 
(II) in other States. 
(C) FAILURE TO CERTIFY.— 
(i) INITIAL CERTIFICATION.—If an el-
igible entity awarded a loan under this 
subsection fails to make the certification 
required by subparagraph (A), the eligible 
entity shall— 
(I) be ineligible for the second in-
stallment of the loan under paragraph 
(4)(B); and 
(II) repay to the eligible inter-
mediary the amount of the loan re-
ceived by the recipient. 
(ii) FINAL CERTIFICATION.—If an eli-
gible entity awarded a loan under this sub-
section fails to make the certification re-
quired by subparagraph (B), the eligible 
entity shall repay to the eligible inter-
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mediary the entire amount of the loan re-
ceived by the recipient. 
(6) LOAN FORGIVENESS.—If an eligible entity 
makes the certifications required by paragraph (5), 
the eligible intermediary shall forgive the loan the el-
igible intermediary provided to such eligible entity. 
(7) LIMITATION.—An eligible intermediary may 
not award a loan to any eligible entity under this 
subsection for the purpose of relocating a job from 
one State to another State. 
(8) CONSULTATION
AND
COORDINATION.—To 
the extent practicable, an eligible intermediary es-
tablishing a program under this subsection shall 
carry out such program in consultation and coordi-
nation with— 
(A) State governments; 
(B) local economic development agencies of 
States; 
(C) local governments; and 
(D) economic development districts. 
(9) ADMINISTRATIVE COSTS.—An eligible inter-
mediary may not use more than 5 percent of any 
grant received by the eligible intermediary under 
subsection (c) for costs of administering a program 
under paragraph (1). 
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