N.Y. Comp. Codes R. & Regs. tit. 21, § 4250.2 – Definitions.

(a) Administrative costs shall mean expenses incurred by a community based lending organization in its administration of a program loan from the corporation.
(b) Administrative income shall mean income from:
1. (1) fees charged by a community based lending organization, including application fees, commitment fees and loan guarantee fees related to the business loans made to borrowers by the community based lending organization; and
2. (2) interest income earned on the portion of the program funds held by the community based lending organization (whether such funds are undisbursed program funds or are repayment proceeds of business loans made by the community based lending organization).
(c) Business loan shall mean a loan made by a community based lending organization to an eligible business for an eligible project that is either a micro-loan or a regular loan.
(d) Community based lending organizations shall mean community development financial institutions, small business lending consortia, certified development companies, providers of United States Department of Agriculture business and industrial guaranteed loans, United States Small Business Administration loan providers, credit unions and community banks.
(e) Community development financial institution or CDFI shall mean a community based organization that provides financial services and products to communities, businesses and people underserved by traditional financial institutions.
(f) Corporation shall mean the New York State Urban Development Corporation d/b/a Empire State Development Corporation, a corporate governmental agency constituting a body corporate and politic and a public benefit corporation of the State of New York created by chapter 174 of the Laws of 1968, as amended.
(g) Eligible businesses shall have the meaning given in section 4250.3 of this Part.
(h) Eligible project shall have the meaning given in section 4250.3 of this Part.
(i) Eligible uses shall have the meaning given in section 4250.4 of this Part.
(j) Ineligible businesses shall mean newspapers, broadcasting, or other news media; medical facilities, libraries, community or civic centers. It also means any business relocating from one municipality with the State to another, except when the business is relocating within a municipality with a population of at least one million and the governing body of the municipality approves or each municipality from which such business operation will be relocated agrees to such relocation.
(k) Ineligible projects shall mean any project that is not an eligible project, including, without limiting the foregoing, public infrastructure improvements and funding for providing payment or distribution as a loan to owners, members and partners or shareholders of the applicant business or their family members.
(l) Loan fund shall mean the Small Business Revolving Loan Fund created by the Small Business Revolving Loan Fund legislation.
(m) Loan fund account shall mean each and every account established by the community based lending organization for the purpose of depositing program funds.
(n) Loan fund legislation shall mean section 16-t of the act.
(o) Loan fund proceeds shall mean any and all monies made available to the corporation for deposit to the loan fund, including monies appropriated by the State and any income earned by, or incremental to, the amount due to the investment of the same, or any repayment of monies advanced from the loan fund.
(p) Micro-loan shall mean a small business loan that has a principal amount that is less than or equal to $25,000.
(q) Minority business enterprise shall mean a business enterprise which is at least 51 percent owned, or in the case of a publicly-owned business at least 51 percent of the common stock or other voting interests of which is owned, by one or more minority persons and such ownership must have and exercise the authority to independently control the day to day business decisions of the entity. Minority persons shall mean persons who are:
1. (1) Black;
2. (2) Hispanic persons of Mexican, Puerto Rican, Dominican, Cuban, Central or South America descent or either Indian or Hispanic origin, regardless of race;
3. (3) Asian and Pacific Islander persons having origins in the Far East, Southeast Asia, the Indian sub-continent or the Pacific Islands; or
4. (4) American Indian or Alaskan Native persons having origins in any of the original people of North America and maintaining identifiable tribal affiliations through membership and participation or community identification.
(r) Program loan fund agreement shall mean the agreement between the corporation and the community based lending organization pursuant to which the program funds will be disbursed to and used by the community based lending organization.
(s) Program loan shall mean a loan made by the corporation to a community based lending organization.
(t) Regular loan shall mean a small business loan that has a principal amount greater than $25,000.
(u) Service delivery area shall mean one or more contiguous counties or municipalities to be served by the community based lending organization and described in the program loan fund agreement between the corporation, as lender, and the community based lending organization, as borrower.
(v) Small business shall mean a business that is resident and authorized to do business in the State, independently owned and operated, not dominant in its field, and employs 100 or fewer persons on a full time basis.
(w) State shall mean the State of New York.
(x) Women business enterprise shall mean a business enterprise that is at least 51 percent owned, or in the case of a publicly-owned business at least 51 percent of the common stock or other voting interests of which is owned, by United States citizens or permanent resident aliens, one or more who are women, regardless of race or ethnicity, and such ownership interest is real, substantial and continuing and such woman or women have and exercise the authority to independently control the day to day business decisions of the enterprise.
(y) Working capital loans shall mean short and medium term loans for working capital, revolving lines of credit and seasonal inventory loans made by community based lending organizations to eligible businesses for eligible projects.