13 C.F.R. § 119.2 Definitions.
Title 13 - Business Credit and Assistance
For the purposes of this part, the following definitions apply: Capacity Building Grant means a grant made under the Act identified under §119.4(b). Capacity building services means services provided to an organization or program that is currently, or is developing as, a microenterprise development organization or program, for the purpose of enhancing its ability to provide training and technical assistance to disadvantaged microentrepreneurs. Collaborative means two or more nonprofit entities that agree to act jointly as a qualified organization under this part. Developer means a person interested in starting or acquiring a microenterprise. Disadvantaged entrepreneur, or disadvantaged microentrepreneur, means the owner, majority owner, or developer, of a microenterprise who is also— (1) A low-income person; (2) A very low-income person; or (3) An entrepreneur who lacks adequate access to capital or other resources essential for business success, or is economically disadvantaged, as defined in this part. Discretionary Grant means a grant made under the Act identified under §119.4(d). Economically disadvantaged entrepreneur, or economically disadvantaged microentrepreneur, means an owner, majority owner, or developer of a microenterprise whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the industry such that his or her ownership of a small business would help to qualify the small business for assistance under section 7(j) or section 8(a) programs of the Small Business Act. Grantee means a recipient of a grant under the Act. Group has the same meaning as “collaborative” as defined in this section. Indian tribe means any Indian tribe, band, pueblo, nation, or other organized group or community, including any Alaska Native village or regional or village corporation, as defined in or established pursuant to the Alaska Native Claims Settlement Act, which is recognized as eligible for the special programs and services the United States provides to Indians because of their status as Indians. Indian tribe jurisdiction means Indian country, as defined in 18 U.S.C. 1151, and any other lands, title to which is either held by the United States in trust for the benefit of any Indian tribe or individual or held by any tribe or individual subject to a restriction by the United States against alienation, and any land held by Alaska Native groups, regional corporations, and village corporations, as defined in or established under the Alaska Native Claims Settlement Act, public domain Indian allotments, and former Indian reservations in the State of Oklahoma. Intermediary means a private, nonprofit entity serving or seeking to serve microenterprise development organizations or programs identified under §119.3. Large microenterprise development organization or program means a microenterprise development organization or program with 10 or more full time employees or equivalents, including its executive director, as of the date it files its application with SBA for a PRIME grant. Local community means an identifiable area and population constituting a political subdivision of a state. Low-income person means a person having an income, adjusted for family size, of not more than— (1) For metropolitan areas, 80 percent of the median income; and (2) For non-metropolitan areas, the greater of— (i) 80 percent of the area median income; or (ii) 80 percent of the statewide non-metropolitan area median income. Microenterprise means a sole proprietorship, partnership or corporation that— (1) Has fewer than 5 employees, including the owner; and (2) Generally lacks access to conventional loans, equity, or other banking services. 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 microentrepreneurs. Qualified organization means an organization eligible for a PRIME grant identified under §119.3. Research and Development Grant means a grant made under the Act identified under §119.4(c). Severe constraints on available sources of matching funds means the documented inability of a qualified organization applying for a PRIME grant to raise matching funds or in-kind resources from non-Federal sources during the 2 years immediately prior to the date of its application because of a lack of or increased scarcity of monetary or in-kind resources from potential non-Federal sources. Small microenterprise development organization or program means a microenterprise development organization or program with less than 10 full time employees or equivalents, including its executive director, as of the date it files its application with SBA for a PRIME grant. Technical Assistance Grant means a grant made under the Act identified under §119.4(a). Training and technical assistance means services and support provided to disadvantaged entrepreneurs, such as, but not limited to, assistance intended to enhance business planning, marketing, management, financial management skills, business operations, or assistance for the purpose of increasing access to loans and other financial services. 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 673(2) of the Community Services Block Grant Act, 42 U.S.C. 9902(2), including any revision required by that section.
Title 13: Business Credit and Assistance
PART 119—PROGRAM FOR INVESTMENT IN MICROENTREPRENEURS (“PRIME” OR “THE ACT”)
§ 119.2 Definitions.
