Section 85-4-007 - Application Process and Evaluation007.01 ApplicationAll eligible Microenterprises and Microenterprise Delivery Organizations will submit an application to the Department for review and approval. The application will be evaluated based upon the criteria established in the Act.
007.02 Evaluation CommitteeApplications will be evaluated by a Departmental committee. This committee will be appointed by the Director, or their designee, and will consist of representatives from the Department, banking industry, regional organizations, councils of governments and others as determined by the Director.
Where funds under this Act are leveraged with non-state funds of a Statewide Microlending Support Organization, the Director may authorize integrating Program procedures and evaluation committee members with that of the Statewide Microlending Delivery Organization.
007.03 Evaluation Criteria Applications made to the Department by Micro- loan Delivery Organizations may be evaluated based on the following criteria established in the Act.
007.03A The Microloan Delivery Organization's plan for providing business development services and microloan loans to micro enterprises. This plan must include a comprehensive scope of services and coordination of services and loans by the Microloan Delivery Organization with commercial lending institutions.007.03B All geographic areas and regions of the state, including both urban and rural communities, neighborhoods should be considered.007.03C The ability of the Microloan Delivery Organization to provide for business development in areas of chronic economic distress and low income regions of the state.007.03D The ability of the Microloan Delivery Organization to provide business training and technical assistance to microloan clients.007.03E The ability of the Microloan Delivery Organization to monitor and provide financial oversight of the recipients of the microloans.007.03F The ability of the Microloan Delivery Organization to have sufficient sources of operating funds presently and in the future.007.03G The ability of the Microloan Delivery Organization to match granted funds. Granted Funds must be matched by nonstate funds equivalent in money or in kind equal to each one dollar for each one dollar of the grant funds requested. Such matching funds can come from any nonstate source, including private foundations, federal or local governments sources, quasi-governmental entities or commercial lending institutions, or any other funds whose source does not include funds appropriated from the Legislature.007.03H At least fifty percent of the microloans must be disbursed by the Microloan Delivery Organizations in microloans which do not exceed ten thousand dollars.85 Neb. Admin. Code, ch. 4, § 007