As used in this chapter, "nontraditional entrepreneur" means a person who operates or seeks to establish a business in Indiana and who is described in one (1) or more of the following categories:

1. (1) Persons whose employment has been terminated or who have been laid off and who have limited opportunities for employment or reemployment in the same or a similar occupation in the area in which they reside.
2. (2) Persons who are employed but whose family income is not greater than one hundred twenty-five percent (125%) of the federal income poverty level for the same size family.
3. (3) Single parents whose family income is not greater than one hundred twenty-five percent (125%) of the federal income poverty level for the same size family.
4. (4) Minorities.
5. (5) Women.
6. (6) Persons who are at least sixty-five (65) years of age.
7. (7) Persons who are at least eighteen (18) years of age but less than twenty-four (24) years of age.
8. (8) Welfare recipients.
9. (9) Owners or operators of existing businesses with less than twenty-five (25) employees.
10. (10) Persons who by reason of physical or mental disability are unable to achieve full vocational participation.
11. (11) Members of family farms undergoing economic adjustment and seeking sources of income in addition to the farm.

As added by P.L.4-2005, SEC.34.