[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: 13CFR308.11]

[Page 567]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
CHAPTER III--ECONOMIC DEVELOPMENT ADMINISTRATION, DEPARTMENT OF COMMERCE
 
PART 308--REQUIREMENTS FOR ECONOMIC ADJUSTMENT GRANTS--Table of Contents
 
  Subpart B--Special Requirements for Revolving Loan Fund Projects and 
                           Uses of Grant Funds
 
Sec. 308.11  Lending areas and modification of lending areas.

    (a) The economic activity and benefits of RLF loans must be located 
within the eligible areas identified in the grant award. For a 
determination of eligibility for new RLF lending areas, such areas must 
be included in or added to a CEDS in accordance with requirements under 
Sec. 301.3 of this chapter.
    (1) Where such RLFs have a grant condition that permits new areas 
that subsequently become eligible to be added to the lending area, RLFs 
that were awarded assistance (RLF capitalization or recapitalization) 
before February 11, 1999, whether fully disbursed or not, and fully 
disbursed RLFs that were awarded assistance (RLF capitalization or 
recapitalization) on or after February 11, 1999, may add such areas with 
EDA approval.
    (2) In the case of existing RLFs that are not fully disbursed that 
were awarded assistance (RLF capitalization or recapitalization) on or 
after February 11, 1999, the area proposed to be added must also be 
eligible to receive an EDA grant rate equal to or greater than that of 
the original grant.
    (b) Whenever an area is added, modification to the RLF Plan 
incorporating the new area and outlining the RLF lending strategy is 
required. Once approved, area eligibility is retained indefinitely.

[65 FR 2532, Jan. 18, 2000, as amended at 65 FR 71025, Nov. 28, 2000]