Collapse to view only § 6908. Recordkeeping
- § 6901. Definitions
- § 6902. Establishment of program
- § 6903. Uses of assistance
- § 6904. Qualified organizations
- § 6905. Allocation of assistance; subgrants
- § 6906. Matching requirements
- § 6907. Applications for assistance
- § 6908. Recordkeeping
- § 6909. Authorization
- § 6910. Implementation
§ 6901. Definitions
For purposes of this chapter, the following definitions shall apply:
(1) Administration
(2) Administrator
(3) Capacity building services
(4) Collaborative
(5) Disadvantaged entrepreneur
The term “disadvantaged entrepreneur” means a microentrepreneur that is—
(A) a low-income person;
(B) a very low-income person; or
(C) an entrepreneur that lacks adequate access to capital or other resources essential for business success, or is economically disadvantaged, as determined by the Administrator.
(6) Indian tribe
(7) Intermediary
(8) Low-income person
(9) Microentrepreneur
(10) Microenterprise
The term “microenterprise” means a sole proprietorship, partnership, or corporation that—
(A) has fewer than 5 employees; and
(B) generally lacks access to conventional loans, equity, or other banking services.
(11) Microenterprise development organization or program
(12) Training and technical assistance
(13) Very low-income person
(Pub. L. 103–325, title I, § 172, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1472.)
§ 6902. Establishment of program
The Administrator shall establish a microenterprise technical assistance and capacity building grant program to provide assistance from the Administration in the form of grants to qualified organizations in accordance with this chapter.
(Pub. L. 103–325, title I, § 173, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1473.)
§ 6903. Uses of assistance
A qualified organization shall use grants made under this chapter—
(1) to provide training and technical assistance to disadvantaged entrepreneurs;
(2) to provide training and capacity building services to microenterprise development organizations and programs and groups of such organizations to assist such organizations and programs in developing microenterprise training and services;
(3) to aid in researching and developing the best practices in the field of microenterprise and technical assistance programs for disadvantaged entrepreneurs; and
(4) for such other activities as the Administrator determines are consistent with the purposes of this chapter.
(Pub. L. 103–325, title I, § 174, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1473.)
§ 6904. Qualified organizations
For purposes of eligibility for assistance under this chapter, a qualified organization shall be—
(1) a nonprofit microenterprise development organization or program (or a group or collaborative thereof) that has a demonstrated record of delivering microenterprise services to disadvantaged entrepreneurs;
(2) an intermediary;
(3) a microenterprise development organization or program that is accountable to a local community, working in conjunction with a State or local government or Indian tribe; or
(4) an Indian tribe acting on its own, if the Indian tribe can certify that no private organization or program referred to in this paragraph exists within its jurisdiction.
(Pub. L. 103–325, title I, § 175, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1473.)
§ 6905. Allocation of assistance; subgrants
(a) Allocation of assistance
(1) In general
The Administrator shall allocate assistance from the Administration under this chapter to ensure that—
(A) activities described in section 6903(1) of this title are funded using not less than 75 percent of amounts made available for such assistance; and
(B) activities described in section 6903(2) of this title are funded using not less than 15 percent of amounts made available for such assistance.
(2) Limit on individual assistance
(b) Targeted assistance
(c) Subgrants authorized
(1) In general
(2) Limit on administrative expenses
(d) Diversity
(e) Prohibition on preferential consideration of certain SBA program participants
(Pub. L. 103–325, title I, § 176, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1473.)
§ 6906. Matching requirements
(a) In general
(b) Sources of matching funds
(c) Exception
(1) In general
(2) Limitation
(Pub. L. 103–325, title I, § 177, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1474.)
§ 6907. Applications for assistance
An application for assistance under this chapter shall be submitted in such form and in accordance with such procedures as the Administrator shall establish.
(Pub. L. 103–325, title I, § 178, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1474.)
§ 6908. Recordkeeping
The requirements of section 4714 of title 12 shall apply to a qualified organization receiving assistance from the Administration under this chapter as if it were a community development financial institution receiving assistance from the Fund under subtitle A.
(Pub. L. 103–325, title I, § 179, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1474.)
§ 6909. Authorization
In addition to funds otherwise authorized to be appropriated to the Fund to carry out this title,1
1 See References in Text note below.
there are authorized to be appropriated to the Administrator to carry out this chapter—(1) $15,000,000 for fiscal year 2000;
(2) $15,000,000 for fiscal year 2001;
(3) $15,000,000 for fiscal year 2002; and
(4) $15,000,000 for fiscal year 2003.
(Pub. L. 103–325, title I, § 180, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1474.)
§ 6910. Implementation
The Administrator shall, by regulation, establish such requirements as may be necessary to carry out this chapter.
(Pub. L. 103–325, title I, § 181, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1475.)