### Question
What does qualified plan mean?


### Answer
**Qualified plan** has the following meaning in *42 U.S.C. § 604*:

> a business plan which—


(i) is approved by a financial institution, or by a nonprofit loan fund having demonstrated fiduciary integrity,


(ii) includes a description of services or goods to be sold, a marketing plan, and projected financial statements, and


(iii) may require the eligible individual to obtain the assistance of an experienced entrepreneurial advisor

#### Citation:
  - *42 U.S.C. § 604*
  - Heading: **CHAPTER 6-THE CHILDREN'S BUREAU > SUBCHAPTER IV-GRANTS TO STATES FOR AID AND SERVICES TO NEEDY FAMILIES WITH CHILDREN AND FOR CHILD-WELFARE SERVICES > Part A-Block Grants to States for Temporary Assistance for Needy Families**

