(a) For applications involving establishment of a revolving fund to provide financial assistance to third parties the applicant shall develop a plan which outlines the purpose and administration of the fund. The plan will include:
(1) Planned projects to be financed.
(2) Sources of all non RBE funds.
(3) Amount of technical assistance (if any).
(4) Purpose of the loans.
(5) Number of jobs to be created/saved with each project.
(6) Project priority and length of time involved in completion of each project.
(7) Other information required by the State Office.
(b) Each third party project receiving funds will be reviewed for eligibility. When the applicant does not have a list of projects to be completed, the applicant should advise the FmHA or its successor agency under Public Law 103-354 at the time a preapplication is submitted. [55 FR 135, Jan. 3, 1990, as amended at 57 FR 33101, July 27, 1992]