Date Published: March 2019
The grantee operates a small business loan program for the purpose of creating new jobs. The amount of funding a grantee commits to any individual business cannot exceed $50,000 per job. Under the aggregate public benefit standard, all the business loans the grantee makes during any given program year need to, in essence, average out to no more than $35,000 per job. Several of the loans to businesses in the grantee's NRSA will cost well over $35,000 per job and would push the grantee over the $35,000 per job aggregate average. However, the grantee can exclude loans made to NRSA businesses from that average calculation; by excluding those loans, the grantee's aggregate figure stays below $35,000 per job.