Evaluation and selection of SSBICs.

§ 108.2006 Evaluation and selection of SSBICs. SBA will evaluate and select an SSBIC for an Operational Assistance grant award under the NMVC program solely at SBA's discretion, based on SBA's review of the SSBIC's application materials, interviews or site visits with the SSBIC (if any), and information in SBA's records relating to the SSBIC's regulatory compliance status and track record as an SSBIC. SBA's evaluation and selection process is intended to ensure that SSBIC requests are evaluated on a competitive basis and in a fair and consistent manner. SBA will evaluate and select SSBICs for an Operational Assistance grant award by considering the following criteria: (a) The strength of the SSBIC's application, including the strength of its proposal to provide Operational Assistance to Smaller Enterprises in which it intends to invest; (b) The SSBIC's regulatory compliance status and past track record in being able to accomplish program goals through its investment activity; (c) The likelihood that and the time frame within which the SSBIC will be able to raise the Regulatory Capital it intends to raise and obtain the matching resources described in § 108.2005(b) and (g); (d) The need for Low-Income Investments in the LI Areas in which the SSBIC intends to invest; (e) The SSBIC's demonstrated understanding of the markets in the LI Areas in which it intends to invest; (f) The extent to which the activities proposed by the SSBIC will promote economic development and the creation of wealth and job opportunities in the LI Areas in which it intends to invest and among individuals living in LI Areas; (g) The likelihood that the SSBIC will fulfill the goals described in its application and meet the objectives of the NMVC program; and (h) The strength of the SSBIC's application compared to applications submitted by other SSBICs and by Applicants intending to invest in the same or proximate LI Areas. [67 FR 68503, Nov. 12, 2002]