; (2) identify distressed areas under subsection (c); and (3) approve loan cancellation requests under subsection (d). (b) Certification for founders of distressed area businesses A founder of a distressed area business seeking certification from the young entrepreneurs business center under this section for such distressed area business shall submit to the Administrator an application that includes— (1) a 5-year business plan for such distressed area business; (2) the number of employees such distressed area business intends to employ for each year of such plan; and (3) evidence that the founder— (A) is also an employee of such distressed area business; and (B) is a recent graduate of an institution of higher education. (c) Distressed area (1) In general Not later than 24 months after the date of the enactment of this section, and at least every 3 years thereafter, the young entrepreneurs business center shall identify and make publically available on the website of the Administration a list of distressed areas. (2) Requirements A distressed area identified under paragraph (1) shall be a county or equivalent unit of local government of a State— (A) that has, for the most recent 24-month period for which statistics are available— (i) a per capita income of 80 percent or less of the national average; or (ii) an unemployment rate that is not less than 1 percent greater than the national average