8948-17 Authorize Agreement to Operate the Small Business Performance Grant Program

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UNITED STATES SMALL BUSINESS ADMINISTRATION: The Cleveland District Office of the U.S. Small Business Administration will help identify participating municipalities, coordinate lender participation in the Initiative, assist borrowers in obtaining SBA bank approvals and track loan approvals. SBA will nominate a point person to manage SBA's responsibilities under the Initiative. CUYAHOGA COUNTY: Cuyahoga County will provide matching grant funds to a qualifying Municipal - Cuyahoga County Credit Enhancement Fund with a Participating Municipality that will be used to provide performance grants /forgivable loans (i.e. Performance Grant) to qualifying small businesses within the municipality. BUSINESS PLAN: The business plan must be prepared with guidance from the Small Business Development Center (SBDC), as coordinated by the Urban League of Greater Cleveland. Said business plan must contain reasonable projections, a clear sources and uses of funding statement, and any other requirements determined by the SBDC. If a business plan is not appropriate, the SBDC must render the relevant technical assistance and explain the nature of said assistance to the participating lender or CDC as well as the SBA. SMALL BUSINESS DEVELOPMENT CENTER (SBDC): The Cuyahoga County Lead Center at the Cleveland Urban League, or another Cuyahoga SBDC such as those residing at Cleveland State University, the Hispanic Chamber or the Women's Business Center at ECDI, as delegated by the Urban League. The Urban League will designate a point person to perform intake, counsel businesses, and confirm the creation of a sufficient business plan or alternative technical assistance. PARTICIPATING LENDER: Lender participation will be solicited by the Cleveland District Office of the SBA. Participating Lenders must agree to inform the Cleveland District Office when an Applicant receives approval and authorization. Participating Lenders must have an SBA 750 Agreement on file with SBA or be a certified development company. Participating Lenders must agree to make potential Applicants aware of the program. Generally, any lender willing to participate in the program and who has a valid lending agreement with the SBA can participate. Participating Lenders must designate a point person at the bank to facilitate the review and processing of SBA loans made under this Initiative. Participating Lenders are responsible for confirming that all project proceeds are used for SBA - eligible purposes and for confirming the borrower's equity participation, plus comply with all SBA Standard Operating Policies ( "SOPs ") and Regulations. 15 of 17