§6901 — Title 15 Commerce and Trade | U.S. Code

Summary

Lists short meanings for key words used in the chapter. Administration/Administrator: the Small Business Administration and its head. Capacity building services: help for groups becoming or running microenterprise programs so they can better train disadvantaged entrepreneurs. Collaborative: two or more nonprofits working together. Disadvantaged entrepreneur: a microentrepreneur who is low‑income, very low‑income, or lacks access to capital or other resources, as the Administrator decides. Indian tribe and low‑income person: defined in 12 U.S.C. 4702. Intermediary: a private nonprofit that serves microenterprise programs under 15 U.S.C. 6904. Microenterprise: a sole proprietorship, partnership, or corporation with fewer than 5 employees that generally cannot get regular bank loans or equity. Microentrepreneur: the owner of a microenterprise. Training and technical assistance: help with business planning, marketing, management, finances, and accessing financial services. Very low‑income person: income no more than 150% of the poverty line (42 U.S.C. 9902(2)).

Title 15, §6901

Commerce and Trade — Source: USLM XML via OLRC

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

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

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

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

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

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

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

(10)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)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)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)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).

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Short Title

Pub. L. 103–325, title I, § 171, as added by Pub. L. 106–102, title VII, § 725, Nov. 12, 1999, 113 Stat. 1471, provided that: “This subtitle [subtitle C (§§ 171–181) of title I of Pub. L. 103–325, as added by Pub. L. 106–102, enacting this chapter] may be cited as the ‘Program for Investment in Microentrepreneurs Act of 1999’, also referred to as the ‘PRIME Act’.”

§6901 Definitions

Summary

Title 15, §6901

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Short Title

Citations & Metadata