§ 1942.472 - Fund disbursement.

Grantees will be reimbursed as follows:

(a) Standard Form (SF) 270, “Request for Advance or Reimbursement?” will be completed by the applicant and submitted to FmHA or its successor agency under Public Law 103-354 National Office not more frequently than monthly.

(b) Upon receipt of a properly completed SF-270, the funds will be requested through the field office terminal system. Ordinarily, payment will be made within 30 days after receipt of a proper request for reimbursement.

(c) Grantees are encouraged to use minority banks (a bank which is owned by at least 50 percent minority group members) for the deposit and disbursement of funds. A list of minority owned banks can be obtained from the Office of Minority Business Enterprise, Department of Commerce, Washington, DC 20230.