[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR119.14]

[Page 214]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
                CHAPTER I--SMALL BUSINESS ADMINISTRATION
 
PART 119_PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS (``PRIME'' OR ``THE 
 
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 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.