Initial Screening for Eligibility and Completeness

            1. Initial screening: 

All applications will receive an initial screening.  At this stage, SBA staff will review all applications for timely receipt, completeness, and eligibility, but will not review applications for substance or quality.

            2. Initial screening elements:

                         a. Timeliness.

SBA will deem applications received by the Director of ONMVC or his designee after the date and time set forth in the NOFA to be untimely and SBA will not process such applications.

                         b. Completeness.

All applications must contain at least the following information in order for SBA to consider them complete:

 

(1) Signature of authorized representative.

--NMVC company applicants:  on Declaration of Applicant, SBA Form 2184.

--SSBIC applicants:  in block 18.d on Standard Form 424.

 

(2) Application package contains the following documentation:

--NMVC companies: 

• Application (SBA Form 2184),
• Exhibits (SBA Form 2185), and
• all required fingerprint cards.

--SSBIC applicants: 

• Application for Federal Assistance (SF 424),
• Budget Information,
• Appendix B (Assurances and Certifications), and
• technical proposal.

 

(3) Applicants have submitted $5,000 fee.

 

(4) Applicants have submitted 2 hard copies of the application package and a diskette.

            c. Eligibility:

All applications must present information pertaining to the following criteria in order for SBA to consider them eligible:

 

(1) NMVC companies (relevant portions of the application package are referenced):

--Newly formed entity (formed after December 21, 2000)

• Application, Q 501.1

--For-profit entity

• Application, Q 501.1

--Management team identified

• Application, Q 502.1

--Primary mission of the entity is economic development of one or more LI Areas

--Application, Q 111; and Exhibit Q (if organizational documents submitted with initial application)

--Specific Low-Income Geographic Areas identified

• Application, Q 314.1; and Exhibit W.

--Minimum Regulatory Capital of $5,000,000 is proposed

• Application, Q 105

--Minimum grant matching resources of $1,500,000, or 30% of proposed Regulatory Capital whichever is greater, is proposed

• Application, Q 106

 

(2) SSBICs:

--Increase in its Regulatory Capital as in effect on December 21, 2000, is proposed and proposed amount is stated.

--Proposes to use increase in Regulatory Capital to make Low-Income Investments.

 

(3) Proposes to raise grant matching resources in an amount not less than 30% of amount of increase in Regulatory Capital.

 

(4) Application contains information or materials that reasonably can be interpreted as a plan for use of grant funds to provide operational assistance to smaller enterprises in which SSBIC has invested or intends to invest.

 

(5) Specific Low-Income Geographic Areas are identified.

             3. Notification to applicants.

                         a.  Screened out applications.

After the initial screening process is complete for all applications, SBA will send a written notice by mail and e-mail to each screened out applicant advising that it has been screened out and that SBA will not process its application further, and providing a brief explanation of the basis for screening out the application.  Together with this notice, SBA will return to each such applicant its fee.

                         b.  Applications passing the initial screening. 

After the initial screening process is complete for all applications, SBA will send a written notice by mail and e-mail to all applicants passing the initial screening.  This notification will advise them that they have passed the initial screening and will be further processed and refer them to SBA's web site for announcements and updates regarding the NMVC program.

 

(1) For NMVC company applicants, together with this notice SBA also will send the following information:

--Complete blank SF 424 and attachments (which include budget information and assurances and certifications)

--OMB Circular A-110

--Federal Acquisition Regulations Part 31

--Q and A with information about acceptable uses of grant funds 

The notice also will advise NMVC company applicants that they must return complete SF 424 packages to the Director of ONMVC or his designee by no later than 4:00pm on June 25, 2001.  NMVC company applicants that do not submit complete SF 424 packages by this deadline will not be processed further.

The same timeliness and receipt policies and procedures governing the initial application submission (see Section I.A.2, above) also apply to the submission of this package.  Applicants failing to timely submit this package will not be processed further.