PURPOSE: This rule describes terms used by the Agricultural and Small Business Development Authority in administering the small business development loan program.

Editor’s Note: The secretary of state has determined that the publication of this rule in its entirety would be unduly cumbersome or expensive. The entire text of the material referenced has been filed with the secretary of state. This material may be found at the Office of the Secretary of State or at the headquarters of the agency and is available to any interested person at a cost established by state law.

1. (1) Terms not otherwise defined in this rule shall have the meanings given them in sections 348.005–348.180, RSMo (1986) or in participation and loan purchase agreements as described in these rules.

   1. (A) Act means sections 348.005–348.180, RSMo (1986).
   2. (B) Application means a completed instrument on a form approved by the authority which includes a description of the anticipated use of loan proceeds, the amount of the loan and certain certifications of the participating borrower and the participating lender.
   3. (C) Application fee means the fee as set from time-to-time by the authority payable by a participating borrower to the authority.
   4. (D) Authority means the Missouri Agricultural and Small Business Development Authority organized under the provisions of the Act.
   5. (E) Authority fee means the fees as set from time-to-time by the authority payable prior to loan closing by a participating borrower to the authority.
   6. (F) Closing documents means the participating borrowers’ documents, the participating lenders’ documents, the closing certificates of the participating borrower(s) and the participating lender(s), and any other certification or documents as the authority reasonably may require.
   7. (G) Loan and security agreement means an agreement between a participating borrower and a participating lender and any amendments and supplements to it providing for a small business loan by a participating lender to a participating borrower and for its repayment by the participating borrower.
   8. (H) Note means a promissory note to evidence the obligation of the participating borrower to make the repayments as defined in the loan and security agreement.
   9. (I) Participating borrower means any individual, partnership, corporation, firm or other legal entity which meets the criteria as a small business.
   10. (J) Participating lender means any state or national bank, federal land bank, production credit association, bank for cooperatives, federal or state-chartered savings and loan association, or building and loan association or small business investment company that is subject to credit examinations by an agency of the state or federal government, any govern- 2 CSR 100-4

mental agency or any other lending institution approved by the insurer or guarantor of an agricultural development loan, beginning farmer loan or small business pollution control facility loan which undertakes to make or service that loan.

1. (K) Small business means any business which meets the criteria as interpreted and applied by the authority as a small business established for the Small Business Administration as set forth in Section 121.3-10 of Part 121 of Title 13 of the Code of Federal Regulations.

AUTHORITY: section 348.075, RSMo 1986.* Original rule filed Aug. 13, 1991, effective Jan. 13, 1992. *Original authority: 348.075, RSMo 1981, amended 1995, 1997.