; (B) in paragraph (4)— (i) in subparagraph (A), by striking subparagraph (C) each place that term appears and inserting subparagraphs (C) and (G) ; (ii) in subparagraph (C)(i)— (I) by striking subparagraph (A) and inserting subparagraphs (A) and (G) ; and (II) in subclause (II)— (aa) by striking has a portfolio and inserting has— (aa) a portfolio ; (bb) in item (aa), by striking the period at the end and inserting ; or ; and (cc) by adding at the end the following: (bb) a portfolio of loans made under this subsection of which not less than 25 percent is serving rural areas during the period of the intermediary's participation in the program. ; and (iii) by adding at the end the following: (G) Grant amounts based on appropriations In any fiscal year in which the amount appropriated to make grants under subparagraph (A) is sufficient to provide to each intermediary that receives a loan under paragraph (1)(B)(i) a grant of not less than 25 percent of the total outstanding balance of loans made to the intermediary under this subsection, the Administration shall make a grant under subparagraph (A) to each intermediary of not less than 25 percent and not more than 30 percent of that total outstanding balance for the intermediary. ; and (C) by striking paragraph (7) and inserting the following: (7) Program funding for microloans Under the program authorized by this subsection, the Administration may fund, on a competitive basis, not more than 300 intermediaries. . (2) Amendment in 2021 Effective on October 1, 2021, section 7(m)(3)(C) of the Small Business Act ( 15 U.S.C. 636(m)(3)(C) ) is amended— (A) by striking $10,000,000 and by inserting $7,000,000