Page:United States Statutes at Large Volume 121.djvu/1798

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[121 STAT. 1777]
[121 STAT. 1777]
PUBLIC LAW 110-000—MMMM. DD, 2007

PUBLIC LAW 110–140—DEC. 19, 2007

121 STAT. 1777

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‘‘(7) information regarding the management and financial strength of any parent firm, affiliated firm, or any other firm essential to the success of the business plan of the company; and ‘‘(8) such other information as the Administrator may require. ‘‘(c) CONDITIONAL APPROVAL.— ‘‘(1) IN GENERAL.—From among companies submitting applications under subsection (b), the Administrator shall conditionally approve companies to operate as Renewable Fuel Capital Investment companies. ‘‘(2) SELECTION CRITERIA.—In conditionally approving companies under paragraph (1), the Administrator shall consider— ‘‘(A) the likelihood that the company will meet the goal of its business plan; ‘‘(B) the experience and background of the management team of the company; ‘‘(C) the need for venture capital investments in the geographic areas in which the company intends to invest; ‘‘(D) the extent to which the company will concentrate its activities on serving the geographic areas in which it intends to invest; ‘‘(E) the likelihood that the company will be able to satisfy the conditions under subsection (d); ‘‘(F) the extent to which the activities proposed by the company will expand economic opportunities in the geographic areas in which the company intends to invest; ‘‘(G) the strength of the proposal by the company to provide operational assistance under this part as the proposal relates to the ability of the company to meet applicable cash requirements and properly use in-kind contributions, including the use of resources for the services of licensed professionals, when necessary, whether provided by employees or contractors; and ‘‘(H) any other factor determined appropriate by the Administrator. ‘‘(3) NATIONWIDE DISTRIBUTION.—From among companies submitting applications under subsection (b), the Administrator shall consider the selection criteria under paragraph (2) and shall, to the maximum extent practicable, approve at least one company from each geographic region of the Administration. ‘‘(d) REQUIREMENTS TO BE MET FOR FINAL APPROVAL.— ‘‘(1) IN GENERAL.—The Administrator shall grant each conditionally approved company 2 years to satisfy the requirements of this subsection. ‘‘(2) CAPITAL REQUIREMENT.—Each conditionally approved company shall raise not less than $3,000,000 of private capital or binding capital commitments from 1 or more investors (which shall not be departments or agencies of the Federal Government) who meet criteria established by the Administrator. ‘‘(3) NONADMINISTRATION RESOURCES FOR OPERATIONAL ASSISTANCE.— ‘‘(A) IN GENERAL.—In order to provide operational assistance to smaller enterprises expected to be financed by the company, each conditionally approved company shall

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