case of suspected violation of Federal regulations. Renewals: Based on performance. ASSISTANCE CONSIDERATIONS: 191 Formula and Matching Requirements: No statutory formula in current CFR. Length and Time Phasing of Assistance: The maximum life of a loan to an intermediary lender is 10 years. Grants are based on the outstanding balance of the loan amount. POST ASSISTANCE REQUIREMENTS: Reports: Reports will be required of the intermediary on a quarterly basis and at the time of each Microloan closing. Audits: Required annually. Records: Systems sufficient to generate accurate and acceptable reports. FINANCIAL INFORMATION: Account Identification: (Loans) 73-1154-0-1-376; (Grants) 73- 0100-0-1-376. Obligations: (Direct Loans) FY 99 $19,455,000; FY 00 est $60,000,000; and FY 01 est $60,000,000. (Loan Guarantees) FY 99 $24,631,000; FY 00 est $11,995,000; and FY 01 est $16,000,000. (Formula Grants) FY 99 $10,000,000; FY 00 est $12,000,000; and FY 01 est $12,000,000. Range and Average of Financial Assistance: Information is not available at this time. PROGAM ACCOMPLISHMENTS: Microloan Funds became available to end users in August 1992. Since that time, over $100 million have been loaned to microborrowers. The average amount of microloan is about $10,000. REGULATIONS, GUIDELINES, AND LITERATURE: Contact the SBA Office of Financial Assistance, Microenterprise Development
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