Section 85-4-008 - Engage in Contractual RelationsThe Act enables the Department to engage in the contractual relationship with a Statewide Microlending Support Organization which has the capacity to administer grants subject to the requirements of the Act and where such relationships would leverage additional nonstate support funds
008.01 Funds granted to any Statewide Microlending Organizations must be matched by nonstate funds equivalent in money or in kind equal to one dollar for each one dollar of grant funds requested. Such matching funds can come from any nonstate source, including private foundations, federal or local government sources, quasi-governmental entities or commercial lending institutions, or any other funds whose source does not include funds appropriated from the Legislature.008.02 The Act requires that no greater than 10% of the appropriate or contracted funds are to be used by the Department or the Statewide Microlending Support Organization for operating and administration expenses required for this Program.85 Neb. Admin. Code, ch. 4, § 008