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15 U.S.C. § 6908 — Recordkeeping
Federal law — U.S. Code and appendices · legal_authorities
The requirements of [section 4714 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4714&num=0&edition=prelim) shall apply to a qualified organization receiving assistance from the Administration under this chapter as if it were a community development financial institution receiving assistance from the Fund under subtitle A.
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Stable record: federal_law:legal_authorities:record_usc_9759c71eb2be398bacb74c24
Source file: Laws/federal/codes/united-states-code/title-15/section-6908-recordkeeping--76a182d089.md
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Source location: Title 15, Chapter 95, § 6908; chapter-095-microenterprise-technical-assistance-and-capacity-building-program.md
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The requirements of [section 4714 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4714&num=0&edition=prelim) shall apply to a qualified organization receiving assistance from the Administration under this chapter as if it were a community development financial institution receiving assistance from the Fund under subtitle A.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** A community development financial institution receiving assistance from the Fund shall keep such records, for such periods as may be prescribed by the Fund and necessary to disclose the manner in which any assistance under this subchapter is used and to demonstrate compliance with the requirements of this subchapter.
**(b) User profile information** The Fund shall require each community development financial institution or other organization receiving assistance from the Fund to compile such data, as is determined to be appropriate by the Fund, on the gender, race, ethnicity, national origin, or other pertinent information concerning individuals that utilize the services of the assisted institution to ensure that targeted populations and low-income residents of investment areas are adequately served.
**(c) Access to records** The Fund shall have access on demand, for the purpose of determining compliance with this subchapter, to any records of a community development financial institution or other organization that receives assistance from the Fund.
**(d) Review** Not less than annually, the Fund shall review the progress of each assisted community development financial institution in carrying out its strategic plan, meeting its performance goals, and satisfying the terms and conditions of its assistance agreement.
**(e) Reporting**
(1) **Annual reports** — The Fund shall require each community development financial institution receiving assistance under this subchapter to submit an annual report to the Fund on its activities, its financial condition, and its success in meeting performance goals, in satisfying the terms and conditions of its assistance agreement, and in complying with other requirements of this subchapter, in such form and manner
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4714
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Findings** The Congress finds that—
(1) many of the Nation’s urban, rural, and Native American communities face critical social and economic problems arising in part from the lack of economic growth, people living in poverty, and the lack of employment and other opportunities;
(2) the restoration and maintenance of the economies of these communities will require coordinated development strategies, intensive supportive services, and increased access to equity investments and loans for development activities, including investment in businesses, housing, commercial real estate, human development, and other activities that promote the long-term economic and social viability of the community; and
(3) community development financial institutions have proven their ability to identify and respond to community needs for equity investments, loans, and development services.
**(b) Purpose** The purpose of this subchapter is to create a Community Development Financial Institutions Fund to promote economic revitalization and community development through investment in and assistance to community development financial institutions, including enhancing the liquidity of community development financial institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4701
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Federal law — U.S. Code and appendices · legal_authorities
Page 2303
TITLE 15—COMMERCE AND TRADE
§ 6910
1 See References in Text note below.
that assistance to qualified small and emerg-
ing microenterprise organizations and pro-
grams, subject to such rules and regulations as
the Administrator determines to be appro-
priate.
(2) Limit on administrative expenses
Not more than 7.5 percent of assistance re-
ceived by a qualified organization under this
chapter may be used for administrative ex-
penses in connection with the making of sub-
grants under paragraph (1).
(d) Diversity
In making grants under this chapter, the Ad-
ministrator shall ensure that grant recipients
include both large and small microenterprise or-
ganizations, serving urban, rural, and Indian
tribal communities serving diverse populations.
(e) Prohibition on preferential consideration of
certain SBA program participants
In making grants under this chapter, the Ad-
ministrator shall ensure that any application
made by a qualified organization that is a par-
ticipant in the program established under sec-
tion 636(m) of this title does not receive pref-
erential consideration over applications from
other qualified organizations that are not par-
ticipants in such program.
(Pub. L. 103–325, title I, § 176, as added Pub. L.
106–102, title VII, § 725, Nov. 12, 1999, 113 Stat.
1473.)
§ 6906. Matching requirements
(a) In general
Financial assistance under this chapter shall
be matched with funds from sources other than
the Federal Government on the basis of not less
than 50 percent of each dollar provided by the
Administration.
(b) Sources of matching funds
Fees, grants, gifts, funds from loan sources,
and in-kind resources of a grant recipient from
public or private sources may be used to comply
with the matching requirement in subsectio
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 6908
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