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Federal Register / Vol. 86, No. 92 / Friday, May 14, 2021 / Rules and Regulations ii There has been no material adverse change in the microlender, its key personnel, or its financial condition since the issuance of the letter of conditions. If one or more adverse changes have occurred, the microlender must explain the changes and the Agency must determine that the microlender remains eligible and qualified to participate as an MDO.
3 The microlender will provide sufficient evidence that no lawsuits or other legal issues are pending or threatened that would adversely affect the security of the microlender when Agency security instruments are filed.

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Grant provisions.

Grants offered under this program will be made to eligible MDOs in such amounts and requirements for microlenders with a loans from the Agency, and for MDOs that seek only a TA grant from the Agency. Competition for these funds will occur as a part of the application and qualification process of becoming a microlender or grant recipient. No entity will receive grant funding as both a microlender and a TA-only provider. RMAP
microlenders are not eligible for TAonly grant funding and an MDO
receiving TA-only grant funding is not eligible for microlender grant funding.
Failure to meet scoring benchmarks will preclude an applicant from receiving loan and/or grant dollars. Once an MDO
is participating as a microlender, TA
grant funds will be made available annually based on the MDOs lending balances and the availability of funds.
a Microlender grants. The Agency shall make microlender TA grants to microlenders to assist them in providing marketing, management, and other TA
to rural microentrepreneurs and microenterprises that have received or are seeking one or more microloans from the microlender. The capacity of a microlender to provide an integrated program of microlending and TA will be evaluated during the scoring process with their loan application and then annually in determining the amount of annual grant funds. An eligible MDO
selected to be a microlender will be eligible to receive a microlending TA
grant if it receives funding to provide microloans under this program.
Microlender applicants for loan funding to establish or replenish a revolving loan fund originally capitalized under this program, may simultaneously apply for TA grant funds in an amount not to exceed 25 percent of the requested loan amount.
1 Technical assistance grants to microlenders will be awarded annually on a non-competitive basis in an
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amount based on the MDOs outstanding loan balance as of June 30, subject to satisfactory program performance of the microlender and the availability of funds. Satisfactory performance includes the timely payment of program loans and the submission of periodic reports to the Agency. Annual TA grants to a microlender, subject to the availability of funds, will be made in an amount to replenish the microlenders TA fund to an amount equal to 20 percent of the outstanding principal balance of loans made by the microlender to ultimate recipients unless otherwise published in an annual program funding notice. If available grant funds are not sufficient to fully replenish each microlenders TA
funds to 20 percent of their outstanding loan balance, the available funds will be distributed proportionately based on the percentage of available funds to the total amount of annual TA grant funds requested.
2 Any grant dollars obligated but not spent by the microlender from their initial or subsequent grants will be subtracted from the subsequent years grant eligibility calculation to ensure that obligations cover only microloans made and active and that the MDOs total grant funds available for TA do not exceed the established 20 percent threshold.
3 The microlender will agree to use TA grant funds exclusively for providing TA assistance and training to eligible microentrepreneurs and microenterprises, with the exception that up to 10 percent of the grant funds may be used to cover the microlenders administrative expenses. Grant funds may not be used to make loan payments.
b Technical assistance only grants.
Grants will be competitively made to MDOs for the purpose of providing TA
and training to prospective microborrowers. Technical assistanceonly grants will be provided to eligible MDOs that seek to provide businessbased TA and training to eligible microentrepreneurs and microenterprises, but do not seek funding as a microlender for an RMRF.
1 The amount of a TA-only grant under this program will not exceed 10
percent of the amount of authorized appropriations available in any Federal FY for TA-only grants.
2 Technical assistance only grants will have a grant term not to exceed 12
months from the date the grant agreement is signed.
3 Technical assistance only grantees will be required to:
i Refer clients to internal or external non-program funded lenders for loans of $50,000 or less, and
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ii Collect data regarding such clients. Technical assistance-only grantees will be considered successful if a minimum of 1-in-5 TA clients are referred for a microloan and are operating a business within 18 months of receiving TA from the MDO.
c Matching requirement. The MDO
is required to provide a match of not less than 15 percent of the total amount of the grant in the form of matching funds, indirect costs, or in-kind goods or services. Unless specifically permitted by laws other than the statute authorizing RMAP, matching contributions must be made up of nonFederal funds.
d Administrative expenses. Not more than 10 percent of a grant received by an MDO for a Federal FY may be used to pay administrative expenses.
Microlenders must annually submit a budget of proposed administrative expenses for Agency approval. The Agency has the right to deny the requested amount, even if it is at 10
percent or less, and to fund administrative expenses at a lower level.
1 Administrative expenses should be kept to a minimum. As such, the applicant MDO is required in the application materials to provide an administrative budget plan indicating the amount of funding it will need for administrative purposes. Applicants will be scored accordingly, with those using less than 10 percent of the grant funds for administrative purposes being scored higher than those using 10
percent of the grant funds for administrative purposes.
2 While operating the program, the selected grantee will be expected to adhere to the estimates it provides in its application and annual budget. If for any reason the MDO cannot meet those expectations, it must contact the Agency in writing with justification to request a budget adjustment. Budget adjustments will be considered only if the adjustment result for administrative expenses is within the 10 percent limitation.
3 Microlenders that exceed 10
percent for administrative expenses will be considered in performance default and may be subject to Agency actions including the forfeiting of funds.
e Ineligible grant purposes. Grant funds, matching funds, indirect costs, and in-kind goods and services may not be used for:
1 Grant application preparation costs;
2 Costs incurred prior to the obligation date of the grant;
3 Capital improvements;
4 Political or lobbying activities;
5 Assistance to any ineligible entity;

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