Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards is prepared using the accrual basis method of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S., Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some of the amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements.
Amounts reported in the accompanying schedule agree with the amounts reported in the related periodic federal financial reports.
The federally-funded loans outstanding at December 31, 2025 consist of the following: Program Number Balance USDA Rural Microentrepreneur Assistance Program (RMAP) 498548110 $ 382,127 USDA Intermediary Relending Program (IRP) - 408,319 USDA Intermediary Relending Program (IRP) - 386,248 USDA Intermediary Relending Program (IRP 2025) - 120,000 Microloan Program 7639389107 250,000 Microloan Program 5382359103 792,467 Microloan Program 8512005002 70,371 Microloan Program 24661879104 640,539
The CFDA numbers included in the accompanying Schedule of Expenditures of Federal Awards were determined based on the program name, review of the grant or contract information and the Office of Management and Budget’s Catalog of Federal Domestic Assistance.
The Organization has elected to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.