Page:United States Statutes at Large Volume 104 Part 5.djvu/668

 104 STAT. 3990 PUBLIC LAW 101-624—NOV. 28, 1990 Regulations. individuals involved in banking, financial, or other investment activities); (C) that are likely to stimulate significant job creation or retention and new business creation or business expansion per dollar of funds provided under this section; (D) that submit applications that demonstrate the ability and willingness to provide to local businesses continuing technical and management assistance, training, financial and business guidance, and planning; (E) that demonstrate that the activities of the eligible entity are consistent with State, county, or local goals, whichever is applicable, regarding long-term economic growth and community development; (F) that submit applications containing a comprehensive investment strategy, developed in consultation with the applicable State, regional council or government, and county or other general purpose unit of local government; and (G) that propose to serve a service area— (i) whose unemployment or poverty rates exceed the Statewide nonmetropolitan average; (ii) with special needs arising from actual or threatened severe unemployment arising from economic dislocation; or (iii) that includes any county in which the net migration population loss is at least 5 percent or greater from April 1, 1980, to July 1, 1987, as reported by the Census Bureau of the Department of Commerce. (8) GEOGRAPHIC SPREAD. — (A) IN GENERAL. — In awarding lines of credit under this section the Board shall attempt, as much as reasonably practicable and consistent with sound financial judgment, to assure that all rural regions of the United States benefit from such awards. (B) MINIMUM AMOUNT OF FUNDS.— After considering the availability of qualified applications, and if consistent with good investment practices and the other requirements of this chapter, the Board shall approve the application of at least one eligible entity in each State selected under section 231003X1). The Board shall, to the maximum extent practicable and appropriate, ensure that eligible entities that are approved by the Board in any given State receive at least $750,000 (per State) out of the funds provided under subsection (d). In addition, to the mgiximum extent practicable the Board shall approve the applications of at lesust two eligible entities in each State containing an approved eligible entity. (C) MAXIMUM AMOUNT OF FUNDS.— The total amount of funds provided under this chapter to eligible entities in any State shall not exceed $10,000,000. (D) SPECIAL PROGRAM.— (i) IN GENERAL.—The Board shall issue regulations to establish a program that targets the benefits of the Federal lines of credit provided under this section to those rural areas and residents with special needs. (ii) LIMITS.—I f consistent with sound investment practices, not less than 5 percent, nor more than 15

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