§690h Operational Assistance Grants

Summary

The Administrator can give grants to Renewable Fuel Capital Investment companies so those companies can help smaller businesses they fund, or expect to fund, with day-to-day operations. Grants can run up to 10 years and follow terms the Administrator sets. Each grant is the smaller of 10% of the company’s raised resources under section 690c(d)(2) or $1,000,000. If there isn’t enough money available, grant amounts are cut proportionally. Companies that are only conditionally approved can request a one-time grant up to $100,000; if such a company is not finally approved it must repay the grant under federal law, and if it is approved the advance is subtracted from its total operational assistance grant. The Administrator can also give extra supplemental grants to these companies or other authorized groups. The Administrator may require recipients to match a supplemental grant with equal cash or in-kind support from other sources. None of the money may be used for a company’s overhead or general administrative expenses.