[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR119.14]

[Page 207-208]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
                CHAPTER I--SMALL BUSINESS ADMINISTRATION
 
PART 119--PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS (``PRIME'' OR ``THE ACT'')--Table of Contents
 
Sec. 119.14  Are there limitations regarding the use of program income?

    Program income, as defined in OMB Circular A-110, may only be used 
to further PRIME program objectives. As such, fees collected from 
clients, and other program income as defined, may

[[Page 208]]

be used to help fund the matching requirement. All program income, as 
defined, shall be reported on financial reports submitted to SBA and 
added to funds committed to the project by SBA and the recipient 
organization. However, any interest earned in excess of the maximum 
allowable amount as specified in the OMB circular incorporated into the 
grant must be returned to the Federal Government by the grantee.