From our friends at the SBA for participants in the
SBA Microloan, PRIME, and ILPP programs
This is an end of fiscal year update for 2012- Grant Information, Reporting Information, Training Information as Monday, October 1, 2012 was the first day of Fiscal Year 2013.
Regarding Microloan Program and PRIME Grants:
Beginning with FY2013, OGM will no longer pay late requests for reimbursement. Requests for reimbursement MUST be submitted within 90 days of the end of the quarter for which the reimbursement is being requested. If your request for payment is submitted late, your organization runs the risk of not being paid for work performed. Remember, grants are provided for specific work. Your requests for reimbursement are the method by which you get paid.
All grantee entities should be familiar with their Notice of Award.
Regarding the Microloan Program:
1. All MPERS reporting for FY2012 must be completed by October 7, 2012. Microloans that are not reported by midnight on October 7 will not be considered as a part of your organization’s FY2012 production unless you have evidence that there was a system error. System errors do not include waiting until the last minute to submit your reports. Program volume and other data are used by the Agency to report to Congress and others. This can have a direct impact on Program funding. In addition, because production numbers are considered when grant award amounts are being determined, your reports may also impact the amount of your organization’s FY2013 Microloan Program grant.
2. We will provide a number of Microloan Program training webinars this year, throughout the year. These webinars will be provided in lieu of an FY2013 Training Conference. Each Intermediary should plan to have at least one person on the line at each webinar.
The first Microloan Program Training Webinar is on October 18.
Microloan Program – Grant Reporting
Thursday, October 18, 2012
1:00pm – 2:30pm EST // 10:00am – 11:30am PT
Call-in/Meeting Number: 888-858-2144 and https://www.connectmeeting.att.com
Access Code: 5962990
The webinar will cover the following topics:
- Types of eligible Technical Assistance (TA)
- Use and limitation of TA grant funds
- How to Submit Required Reports
3. The Microloan Program Standard Operating Procedures (SOP) remains in the clearance stage. As a result, it will not be published in time for the beginning of the new Fiscal Year. The SBA will let you know when it is being published.
4. Some Microloan Program Intermediary Lenders have received Notices of Award showing an indirect cost rate of 49%. Be advised that the maximum indirect cost rate that will be honored under the Microloan Program is 25%, regardless of any other negotiated rate, unless that rate is less than 25%. Entities that received a higher indirect cost rate will receive a modification document.
Some Microloan Program Intermediary Lenders have received letters regarding the negotiation of indirect cost rates for their Program grants. Any entity that receives grant funding from the US Government (grantee) is generally required to negotiate an indirect cost rate with their cognizant agency. The cognizant agency is generally the agency that provides the grantee with the greatest amount of funding. However, because the Microloan Program limits the indirect cost rate to 25%, the negotiation of the rate has not been a standing requirement. Earlier this year, it was determined that rates for Microloan Program Intermediaries should be formally negotiated, keeping in mind the 25% limit. At this time, the Office of Grants Management is scheduling a meeting with our negotiators to determine when, and whether the plan to negotiate Microloan Program grant indirect cost rates will continue. Once we know what the plan of action is, we will let you know and will hold a conference call (or several) to discuss the plan. At this time, please rely on the maximum indirect cost rate remaining 25%.
Regarding the Program for Investment in Microentrepreneurs (PRIME):
1. We are informed by OGM that all grants that will be obligated with FY2012 funding have been obligated with FY2012 funding. Not all Notices of Award have gone out. If you do not receive a Notice of Award by the end of October, please call the telephone number below so that we can help you with your research.
All FY2009 PRIME grants have been fully paid out or deobligated.
Most FY2010 PRIME grants have been fully paid out or deobligated. If you have an FY2010 PRIME grant that still has not been paid, you must submit the request for reimbursement by the end of October, 2012, or your organization will not be paid, and the funds will be deobligated.
2. The final request for reimbursement for any outstanding FY2011 grants MUST be submitted by the end of December to meet the 90 day deadline.
No FY2012 funding will be paid until the FY2011 grant is closed out.
3. We will be providing training webinars for PRIME participants. Because we do not plan to have a PRIME Training Conference, grantees should plan to have at least one person on the line for each webinar.
The first PRIME Training Webinar is on October 17th.
PRIME – Grant Reporting
Wednesday, October 17, 2012
1:00pm – 2:30pm EST // 10:00am – 11:30am PT
Call-in/Meeting Number: 888-858-2144 and https://www.connectmeeting.att.com
Access Code: 5962990
Regarding the Intermediary Lending Pilot Program (ILPP):
1. All selections for FY2012 funding have been completed. New ILPP Intermediaries should be in the process of completing the closing of their loans from SBA. FY2011 Intermediaries should be readying their quarterly loan and account activity reports for the period July 1, 2012 through September 30, 2012.
Be reminded the Intermediaries in the Pilot have up to 24 months to loan out the initial $1 million committed to your organizations by SBA.
2. Webinars are currently being scheduled for ILPP participants. You will be receiving notification shortly regarding the first two training webinars- to be held on October 29th and November 1st as follows—
ILPP Monday, October 29, 2012
1:00pm – 2:30pm EST // 10:00am – 11:30am PT
Call-in/Meeting Number: 888-858-2144 and https://www.connectmeeting.att.com
Access Code: 5962990
The webinar will cover the following:
- Terms and Conditions of SBA Loans to ILP Intermediaries
- Loans from ILP Intermediaries to Small Businesses
- Record-keeping & Reporting Requirements
ILPP Thursday, November 1, 2012
1:00pm – 2:30pm EST // 10:00am – 11:30am PT
Call-in/Meeting Number: 888-858-2144 and https://www.connectmeeting.att.com
Access Code: 5962990
The live webinar demonstration will cover the following:
- How to Access ILPERS
- How to Enter New Loans
- How to Update Portfolio Status
- How to Submit Quarterly Program Activities Reports