If a grantee manages a revolving loan fund distribution account themselves but retains a third party program administrator, how do they obligate funds?
Managing the distribution account constitutes operation of the revolving loan fund. Consequently, funds would be considered obligated by the grantee upon submitting a letter to the Project Officer and receiving a confirmation response from the Project Officer. The letter must: (1) provide the strategy for the RLF and (2) identify the scope and size of the loan program. This can be found on page 3 of SEP Program Notice 10-008B and EECBG Program Notice 09-002B.
