; (ii) has an unemployment rate that is, for the most recent 24-month period for which data are available, at least 1 percent greater than the national average unemployment rate; or (iii) is significantly affected by a loss of, or threat to, the jobs associated with any certification described in subparagraph (A), or the community is undergoing transition of its economic base as a result of changing trade patterns, as determined by the Secretary. (b) Notification of eligibility If one or more certifications described in subsection (a)(2)(A) are made with respect to a community, the applicable Secretary with respect to such certification shall concurrently notify the Governor of the State in which the community is located of the ability of the community to apply for assistance under this section. 274. Grants to eligible communities (a) In general The Secretary may— (1) upon the application of an eligible community, award a grant under this section to the community to assist in developing or updating a strategic plan that meets the requirements of section 275; or (2) upon the application of an eligible entity, award an implementation grant under this section to the entity to assist in implementing projects included in a strategic plan that meets the requirements of section 275. (b) Special provisions (1) Revolving loan fund grants (A) In general The Secretary shall maintain the proper operation and financial integrity of revolving loan funds established by eligible entities with assistance under this section. (B) Efficient administration The Secretary may— (i) at the request of an eligible entity, amend and consolidate grant agreements governing revolving loan funds to provide flexibility with respect to lending areas and borrower criteria