17-6-403. Definitions. As used in this part, the following definitions apply:
     (1) "Certified community lead organization" means an organization that has sponsored community certification under the certified communities program of the department.
     (2) "Certified microbusiness development corporation" means a microbusiness development corporation certified pursuant to 17-6-408.
     (3) "Council" means the microbusiness advisory council established in 17-6-411.
     (4) "Department" means the department of commerce provided for in 2-15-1801.
     (5) "Development loan" means money loaned to a certified microbusiness development corporation by the department for the purpose of making microbusiness loans under the provisions of this part.
     (6) "Microbusiness development corporation" means a nonprofit corporation organized and existing under the laws of the state to provide training, technical assistance, and access to capital for the startup or expansion of qualified microbusinesses.
     (7) "Microbusiness loan" means a loan made from or guaranteed by a revolving loan fund contributed to by the microbusiness finance program.
     (8) "Program" means the microbusiness finance program established in 17-6-406.
     (9) "Qualified microbusiness" means a business enterprise located in the state that produces goods or provides services and has fewer than 10 full-time equivalent employees and annual gross revenues of less than $500,000.
     (10) "Revolving loan fund" means a fund required to be established by a certified microbusiness development corporation that receives a development loan.

     History: En. Sec. 3, Ch. 602, L. 1991.