§6901 Definitions

Summary

Defines the key words used in this chapter. Administration means the Small Business Administration. Administrator means the head of that agency. Capacity building services are help given to groups that are, or are becoming, microenterprise development organizations so they can better train and serve disadvantaged entrepreneurs. Collaborative means two or more nonprofits working together as a qualified organization. Disadvantaged entrepreneur is a microentrepreneur who is low-income, very low-income, or lacks access to capital or other needed resources, as decided by the Administrator. Indian tribe and low-income person have the meanings in 12 U.S.C. 4702. Intermediary is a private nonprofit that serves microenterprise programs under section 6904. Microentrepreneur is the owner or developer of a microenterprise. Microenterprise is a sole proprietorship, partnership, or corporation with fewer than 5 employees that generally lacks access to regular bank loans or equity. Microenterprise development organization or program is a nonprofit (for example, a community development corporation or social service group) that helps disadvantaged entrepreneurs. Training and technical assistance means help with business planning, marketing, management, money skills, and getting financial services. Very low-income person means income at or below 150 percent of the poverty line as defined in 42 U.S.C. 9902(2), including any updates required there.