Page:United States Statutes at Large Volume 114 Part 5.djvu/696

 114 STAT. 2763A-656 PUBLIC LAW 106-554—APPENDIX H company meeting the eligibility requirements set forth in subsection (a) shall submit an application to the Administrator that includes— "(1) a business plan describing how the company intends to make successful developmental venture capital investments in identified low-income geographic areas; "(2) information regarding the community development finance or relevant venture capital qualifications and general reputation of the company's management; "(3) a description of how the company intends to work with community organizations and to seek to address the unmet capital needs of the communities served; "(4) a proposal describing how the company intends to use the grant funds provided under this part to provide operational assistance to smaller enterprises financed by the company, including information regarding whether the company intends to use licensed professionals, when necessary, on the company's stafi"or from an outside entity; "(5) with respect to binding commitments to be made to the company under this part, an estimate of the ratio of cash to in-kind contributions; "(6) a description of the criteria to be used to evaluate whether and to what extent the company meets the objectives of the program established under this part; "(7) information regarding the management and financial strength of any parent firm, affiliated firm, or any other firm essential to the success of the company's business plan; and "(8) such other information as the Administrator may require. "(c) CONDITIONAL APPROVAL.— "(1) IN GENERAL.— From among companies submitting applications under subsection (b), the Administrator shall, in accordance with this subsection, conditionally approval companies to participate in the New Markets Venture Capital Program. "(2) SELECTION CRITERIA. —In selecting companies under paragraph (1), the Administrator shall consider the following: "(A) The likelihood that the company will meet the goal of its business plan. "(B) The experience and background of the company's management team. "(C) The need for developmental venture capital investments in the geographic areas in which the company intends to invest. "(D) The extent to which the company will concentrate its activities on serving the geographic areas in which it intends to invest. "(E) The likelihood that the company will be able to satisfy the conditions under subsection (d). "(F) The extent to which the activities proposed by the company will expand economic opportunities in the geographic areas in which the company intends to invest. "(G) The strength of the company's proposal to provide operational assistance under this part as the proposal relates to the ability of the applicant to meet applicable cash requirements and properly utilize in-kind contributions, including the use of resources for the services of licensed professionals, when necessary, whether provided

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