8.99.404 CERTIFICATION OF MICROBUSINESS DEVELOPMENT CORPORATIONS
(1) The following information is required to be presented to the department by applicants for certification as a MBDC:
(a) A plan for delivery of management training and technical assistance.
(b) A plan for credit investigation and analysis, and loan analysis of microbusiness loan applicants.
(c) A plan for and evidence of ability to administer a revolving loan fund.
(d) A staffing plan including job titles, job descriptions, necessary qualifications, experience, education and other qualifications of primary manager, and personnel training and supervision.
(e) Evidence of broad-based community support, to include letters of support from persons and institutions throughout the region.
(f) Evidence of matching loan funds in the ratio of $1 for every $6 of development loan funds requested.
(g) Evidence of sufficient operating income generated from the proposed revolving loan fund and/or provided from other income sources of the applicant to ensure the successful operation and management of the revolving loan fund.
(h) Evidence of adequate business clients to include, but not be limited to, a plan for identifying, qualifying and marketing to potential borrowers throughout the region to be served.
(i) A plan for marketing to specific groups including at least, but not limited to, minorities, women and low-income persons.
(j) Evidence that the proposing organization is a nonprofit corporation organized and existing under the laws of the state of Montana.
(k) the department may require such additional information as the department in its discretion deems to be appropriate.
(2) The procedures for selection of certification of MBDC are as follows:
(a) The department will provide a written certification application guide to any interested individuals or organizations.
(b) The department will review proposals and determine whether to recommend certification of the MBDC. The proposal and staff's recommendation will be forwarded to the department director for a decision on certification.
(3) An application for certification as a statewide MBDC shall also be required to provide evidence that it will serve a specialized population or specialized need and that its services do not duplicate services offered by existing "funded" regional certified MBDCs.
(4) To maintain its status as a certified MBDC, a MBDC must be reviewed and recertified every four years.
History: 17-6-406, MCA; IMP, 17-6-408, MCA; NEW, 1991 MAR p. 2451, Eff. 12/13/91; AMD, 1993 MAR p. 2236, Eff. 10/1/93; AMD, 1996 MAR p. 2580, Eff. 8/9/96; AMD, 1998 MAR p. 466, Eff. 2/13/98; AMD, 2000 MAR p. 1045, Eff. 4/28/00; AMD, 2008 MAR p. 486, Eff. 3/14/08.