; or (ii) an unemployment rate that is not less than 1 percent greater than the national average; and (B) for which the young entrepreneurs business center determines establishing small business start-ups in such area would be economically beneficial. (d) Approval for loan cancellation (1) Founders of distressed area businesses The young entrepreneurs business center shall approve a founder of a distressed area business who submits an application under subsection (b) for loan cancellation under section 455(r)(1) of the Higher Education Act of 1965 if such distressed area business— (A) beginning on the date of such establishment and ending on the date of the 24th monthly payment on a loan described in such section 455(r)(1), was located in a distressed area (as identified under subsection (c)); (B) was certified under subsection (b); and (C) on the date of approval under this paragraph, has been operating continuously for not less than 5 years. (2) Employees of small business start-ups For purposes of loan cancellation under section 455(r)(2) of the Higher Education Act of 1965— (A) an employee of a small business start-up seeking such loan cancellation shall submit to the Administrator an application, which shall include evidence of the employee’s full-time employment at such small business start-up