§ 6901. Definitions

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For purposes of this chapter, the following definitions shall apply:

(1)Administration The term “Administration” means the Small Business Administration.

(2)Administrator The term “Administrator” means the Administrator of the Small Business Administration.

(3)Capacity building services The term “capacity building services” means services provided to an organization that is, or that is in the process of becoming, a microenterprise development organization or program, for the purpose of enhancing its ability to provide training and services to disadvantaged entrepreneurs.

(4)Collaborative The term “collaborative” means 2 or more nonprofit entities that agree to act jointly as a qualified organization under this chapter.

(5)Disadvantaged entrepreneur The term “disadvantaged entrepreneur” means a microentrepreneur that is—

(A)a low-income person;

(B)a very low-income person; or

(C)an entrepreneur that lacks adequate access to capital or other resources essential for business success, or is economically disadvantaged, as determined by the Administrator.

(6)Indian tribe The term “Indian tribe” has the meaning given the term in section 4702 of title 12.

(7)Intermediary The term “intermediary” means a private, nonprofit entity that seeks to serve microenterprise development organizations and programs as authorized under section 6904 of this title.

(8)Low-income person The term “low-income person” has the meaning given the term in section 4702 of title 12.

(9)Microentrepreneur The term “microentrepreneur” means the owner or developer of a microenterprise.

(10)Microenterprise The term “microenterprise” means a sole proprietorship, partnership, or corporation that—

(A)has fewer than 5 employees; and

(B)generally lacks access to conventional loans, equity, or other banking services.

(11)Microenterprise development organization or program The term “microenterprise development organization or program” means a nonprofit entity, or a program administered by such an entity, including community development corporations or other nonprofit development organizations and social service organizations, that provides services to disadvantaged entrepreneurs.

(12)Training and technical assistance The term “training and technical assistance” means services and support provided to disadvantaged entrepreneurs, such as assistance for the purpose of enhancing business planning, marketing, management, financial management skills, and assistance for the purpose of accessing financial services.

(13)Very low-income person The term “very low-income person” means having an income, adjusted for family size, of not more than 150 percent of the poverty line (as defined in section 9902(2) of title 42, including any revision required by that section).

(Pub. L. 103–325, title I, § 172, as added Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1472.)

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Public Law 106–102
To enhance competition in the financial services industry by providing a prudential framework for the affiliation of banks, securities firms, insurance companies, and other financial service providers, and for other purposes

bill

Traces to 3 documents

U.S. Code

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Pub. L. 103–325, title I, § 172
Pub. L. 106–102, title VII, § 725
113 Stat. 1472
Pub. L. 103–325, title I, § 171
113 Stat. 1471
Pub. L. 103–325
Pub. L. 106–102

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cites case law

§ 6901

Definitions

Fed. Reg.×14

Bills×7

Stat.×2

U.S.C.§ 4702

U.S.C.§ 6904

U.S.C.§ 9902

Pub. L.Pub. L. 103–325, title I, § 172

Pub. L.Pub. L. 106–102, title VII, § 725

Stat.113 Stat. 1472

Pub. L.Pub. L. 103–325, title I, § 171

Stat.113 Stat. 1471

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