6 Miss. Code. R. 9-5.9
The MDA will conduct a fair and open application process for selecting CDFI Funds to participate in the SBLF. This application process is described below. Each application must include all of the following information and documents:
* Documentation of certification as a CDFI-certified non-depository institution;
* Documentation of headquarters in Mississippi;
* Summary chart of qualifying prospective loans in excess of the funding amount sought;
* Organization chart and key personnel descriptions for the team involved in running the SSBCI program, including compliance and reporting to the MDA;
* Three most recent years of audited financial statements;
* Proof of the one-to-one match for the first tranche of funding as demonstrated by:
* Unrestricted cash in bank statements that could be used for the SSBCI match
* Closed loans, credit facilities or other sources of private capital (closed and not letters of intent or commitment letters); and
* Demonstration for matching for second and third tranches by letters of intent or commitment letters from other funding sources that could be used for the SSBCI match.
After receiving and reviewing each application, the MDA may conduct interviews with each eligible loan fund to further confirm capacity or clarify any points necessary. Following this review period, the MDA will make final determinations on the loan size and terms for each participating CDFI Fund. It is assumed that such determinations will be for the length of the SBLF program period across all three tranches of funding for each participating fund.
6 Miss. Code. R. 9-5.9