CFR > Title 13 - Business Credit and Assistance > CHAPTER I—SMALL BUSINESS ADMINISTRATION > PART 108—NEW MARKETS VENTURE CAPITAL (“NMVC”) PROGRAM > SUBPART I—Financing of Small Businesses by NMVC Companies (§108.700 to §108.900) > 108.710—Requirement to finance Low-Income Enterprises.

108.710—Requirement to finance Low-Income Enterprises.

(a) Low-Income Enterprise Financings. At the close of each of your fiscal years—
(1) At least 80 percent of your Portfolio Concerns must be Low-Income Enterprises in which you have an Equity Capital Investment; and
(2) For all Financings you have extended, you must have invested at least 80 percent (in total dollars) in Equity Capital Investments in Low-Income Enterprises.
(b) Non-compliance with this section. If you have not reached the percentages required in paragraph (a) of this section at the end of any fiscal year, then you must be in compliance by the end of the following fiscal year. However, you will not be eligible for additional Leverage until such time as you reach the required percentages (see § 108.1120 ).