Section Cdfa 307.03 - Microenterprise Development Assistance Grants(a) Administrative requirements set forth in Cdfa 306.01(a), (b), (c), (d), (e), (k), and (l) shall not apply to microenterprise development assistance grants.(b) Municipalities shall be eligible to apply for up to $500,000 for a one year grant. This grant shall not count against the municipal annual funding limit established in Cdfa 307.01(b).(c) Municipalities shall be eligible to apply on behalf of subrecipients who will carry out microenterprise development activities.(d) Eligible activities shall include all the activities set forth in 24 CFR 570.482(c).(e) Loans made to microenterprises shall not exceed $25,000 per business.(f) Grantees or subrecipients shall neither propose nor provide grants to for-profit businesses or organizations.(g) Applicants shall include documentation that demonstrates the project is feasible including, at a minimum, the following:(1) A description of management and project staff capabilities and qualifications;(2) Description of the length and scope of the services to be provided;(3) Financial history that is sufficient to determine cash flow;(4) Permanent working capital for the project;(5) Market plans and projections;(6) Confirmed project component costs by outside consultants, if any; and(7) Evidence that the grantee or subrecipient has the long term capacity to administer the project after the grant closeout.(h) Documentation for (g)(3) shall include, but not be limited to, the following: (1) A pro forma budget analysis;(2) Matching funds available;(3) Fees and other income; and(i) Documentation for (g)(4) shall include, but not be limited to, the following:(1) The amount of internal funds which will be used to continue the project after the budget period; and(2) Other sources of operating capital.(j) Subrecipients shall not substitute grant funds for existing financing of overhead costs.(k) Applications shall be accepted on a year round basis and shall be scored according to Cdfa 310.18.N.H. Admin. Code § Cdfa 307.03
(See Revision Note at chapter heading for Cdfa 300) #8387, eff 6-29-05; amd by #8515, eff 1-1-06