become a CDC, naming the person who is authorized to execute all documents. APPLICATION AND AWARD PROCESS: Preapplication Coordination: Approval by a Certified Development Company. This program is excluded from coverage under E.O. 12372. Application Procedure: Application must be made on SBA Form 1244 and requirements set forth thereon must be fully complied with by the Certified Development Company and the small business being assisted. Award Procedure: Applicant is notified in writing by the SBA Office. Deadlines: None. Range of Approval/Disapproval Time: Within 10 working days after formal acceptance of application. Appeals: Requests for reconsideration of a declined loan will be granted at any time within 6 months from the date of decline, providing that reasonable evidence is submitted to substantially overcome the stated reasons for decline. Renewals: Not applicable. ASSISTANCE CONSIDERATIONS: Formula and Matching Requirements: Generally at least 10 percent of the project cost must be injected by the small business concern and 50 percent of the project cost must be provided by a private lender. Length and Time Phasing of Assistance: Not applicable. 409 POST ASSISTANCE REQUIREMENTS: Reports: Annual financial, management and operating reports from the Certified Development Company. Audits: Small Business Administration has the right to conduct an audit
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