§120.703. How does an organization apply to become an Intermediary?
13 C.F.R. § 120.703
Application Process. Organizations interested in becoming Intermediaries should contact SBA for information on the application process.
Documentation in support of application. The application must include a detailed narrative statement describing:
The types of businesses assisted in the past and those the applicant intends to assist with Microloans;
The average size of the loans made in the past and the average size of intended Microloans;
The extent to which the applicant will make Microloans to small businesses in rural areas;
The geographic area in which the applicant intends to operate, including a description of the economic and demographic conditions existing in the intended area of operations;
The availability and cost of obtaining credit for small businesses in the area;
The applicant's experience and qualifications in providing marketing, management, and technical assistance to small businesses; and
Any plan to use other technical assistance resources (such as counselors from the Service Corps of Retired Executives) to help Microloan borrowers.
Notes, amendments, and revision history
Authority
Authority: 15 U.S.C. 634(b) (6), (b) (7), (b) (14), (h), and note, 636(a), (h) and (m), 650, 687(f), 696(3) and (7), and 697(a) and (e); sec. 521, Pub. L. 114-113, 129 Stat. 2242; sec. 328(a), Pub. L. 116-260, 134 Stat. 1182.
Source
Source: 61 FR 3235, Jan. 31, 1996, unless otherwise noted.