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EXHIBIT B <br />REVOLVING LOAN PROGRAM <br />FY 1999-2000 <br />PROGRAM STATEMENT <br />SOUTHLAND ECONOMIC DEVELOPMENT CORP. <br />1. Southland will establish aRevolving-Loan Fund for business loans with the <br />funds provided. Target loan amounts will be $20,000 to $100,000, pursuant <br />to the Zone Application, with consideration given to higher or lower loan <br />amounts as necessary. The loan funds wi71 be used for working capital, <br />equipment financing, inventory, or any other viable business purpose. <br />2. The primary focus of lending efforts wi71 be businesses located in the <br />Empowerment Zone. Consideration, however, will be given to businesses <br />citywide if those businesses in some way benefit zone residents or zone <br />businesses <br />The program tunetable is as follows: <br />9-1-99 to 12-1-99: <br />Execute contract with the City <br />Secure California Lender's License (CFL) <br />Establish program policies and procedures <br />Develop marketing plan <br />12-1-99 to 3-1-00: <br />Market program <br />Process loan requests <br />Fund initial loan requests <br />3-1-00 to 6-1-00: <br />Review balance of loan applications <br />Fund balance of loans <br />Ongoing: Service loans and provide assistance to borrowers, as necessary. <br />Upon repayment, re-lend funds. <br />3. Non profit Incorporation: Februaxy 2, 1980 <br />Federal Tax Identification Number: 95-35b0326 <br />Date of Internal Revenue Service designation: June 1981 <br />