cation of higher quality eligible jobs or eli-
gible jobs that are more difficult to relo-
cate. 
(iii) The number of eligible jobs ex-
pected to be located as a result of receiving 
a grant. 
(iv) Whether the State in which the 
eligible intermediary proposes to establish 
a loan program under subsection (d) has a 
plan to promote the sale and marketing of 
goods produced in the State and whether 
the application of the eligible intermediary 
is consistent with such plan. 
(v) Whether the State in which the el-
igible intermediary proposes to establish a 
loan program under subsection (d) has 
made significant progress in developing a 
strategic plan in accordance with section 
276 of the Trade Act of 1974 (19 U.S.C. 
2371e). 
(vi) If the eligible intermediary pro-
poses to provide assistance with locating 
eligible jobs in a targeted labor surplus 
area not located in an economic develop-
ment district, the following: 
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(I) The severity of the unemploy-
ment level of the State in which the 
targeted labor surplus area is located, 
determined by comparing the average 
number of unemployed individuals in 
such State for the 2-year period end-
ing on the date on which the Sec-
retary establishes the program under 
subsection (b) to the average number 
of unemployed individuals in all 
States for the same period. 
(II) The extent by which the per 
capita income of the targeted labor 
surplus area is less than the average 
per capita income of the State in 
which such area is located. 
(vii) If the eligible intermediary ex-
pects to apply for 1 or more grants under 
section 275, 278, or 279A of the Trade 
Act of 1974 (19 U.S.C. 2371d, 2372, and 
2373), how the eligible intermediary plans 
to integrate the loan program to be estab-
lished by the eligible intermediary under 
subsection (d) with the activities relating 
to such grants. 
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(C) SUBMITTAL OF APPLICATIONS TO GOV-
ERNORS.—Upon the request of a Governor of a 
State, the Secretary shall submit to such Gov-
ernor a list of all applicants who— 
(i) request a grant under this sub-
section to establish a loan program under 
subsection (d) in such State; and 
(ii) the Secretary considers the most 
qualified for a grant under this subsection. 
(6) APPROVAL.—The Secretary shall approve or 
disapprove each application submitted under para-
graph (5) for a grant to carry out a loan program 
under subsection (d) in a State as the Secretary con-
siders would have the greatest positive economic ef-
fect on the economy of such State. In determining 
whether to approve or disapprove an application, the 
Secretary may take into account the recommenda-
tion on such application by the Governor of such 
State. 
(7) MATCHING REQUIREMENT.— 
(A) IN
GENERAL.—An eligible inter-
mediary seeking a grant under this subsection 
shall agree to make available non-Federal funds 
to carry out the purposes of the program re-
quired by subsection (b) in an amount equal to 
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not less than 25 percent of the grant awarded 
to such eligible intermediary under this sub-
section. 
(B) 
LIMITATION.—Non-Federal 
funds 
under subparagraph (A) may not include in- 
kind contributions. 
(d) LOANS FROM ELIGIBLE INTERMEDIARIES TO EL-
IGIBLE ENTITIES.— 
(1) IN GENERAL.—Each eligible intermediary 
receiving a grant under subsection (c) shall use the 
grant to establish a program to provide assistance to 
eligible entities in locating eligible jobs in economic 
development districts or targeted labor surplus 
areas. 
(2) LOANS.— 
(A) IN
GENERAL.—An eligible inter-
mediary with a program under paragraph (1) 
shall carry out such program by awarding loans 
to eligible entities to cover the costs incurred by 
such entities in carrying out the location of eli-
gible jobs as described in paragraph (1). 
(B) SCHEDULE OF LOAN AWARDS.—Each 
eligible intermediary with a program under 
paragraph (1) shall complete the awarding of 
loans under such program not later than 180 
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days after the date that the eligible inter-
mediary receives a grant under subsection (c). 
(3) LOAN TERMS AND CONDITIONS.—The fol-
lowing shall apply with respect to loans provided 
under paragraph (2): 
(A) TERM.—Loans shall have a term of 2 
years. 
(B) INTEREST
RATES.—Loans shall not 
bear any interest. 
(4) AMOUNTS.—A loan awarded by an eligible 
intermediary to an eligible entity under this sub-
section shall be disbursed by the eligible inter-
mediary to the eligible entity in 2 installments as 
follows: 
(A) INITIAL
INSTALLMENT.—The initial 
installment of the loan shall be disbursed to the 
eligible entity as soon as practicable after the 
loan is awarded in an amount equal to $5,000 
per eligible job not located in an economic de-
velopment district or targeted labor surplus 
area that the eligible entity intends to locate in 
an economic development district or targeted 
labor surplus area under this subsection. 
(B) SECOND
INSTALLMENT.—Subject to 
paragraph (5)(B), the second installment of the 
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loan shall be disbursed to the eligible entity as 
soon as practicable after the 366th day after 
the initial installment is disbursed in an amount 
equal to $5,000 per eligible job that the eligible 
entity successfully locates in an economic devel-
opment district or targeted labor surplus area 
that was not located in an economic develop-
ment district or targeted labor surplus area on 
the day before the eligible entity was awarded 
the loan. 
(5) CERTIFICATION OF INCREASE IN EMPLOY-
MENT.— 
(A) INITIAL CERTIFICATION.—Not earlier 
than the 335th day of a loan under this sub-
section and not later than the 365th day of 
such loan, the eligible entity awarded the loan 
shall certify to the satisfaction of the eligible 
intermediary that— 
(i) the eligible entity increased, during 
the first year of the loan, the number of 
full-time equivalent employees employed by 
the eligible entity in an eligible job in an 
economic development district or a tar-
geted labor surplus area; 
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