(1) “Applicant” means an entrepreneur or small business that applies to a loan administrator for a microloan.
(2) “Domiciled in this state” means authorized to do business in this state and located in this state.
(3) “Entrepreneur” means an individual residing in this state who desires to assume the risk of organizing, managing, and operating a small business in this state.
(4) “Network” means the Florida Small Business Development Center Network.
(5) “Small business” means a business, regardless of corporate structure, domiciled in this state which employs 25 or fewer people and generated average annual gross revenues of $1.5 million or less per year for the preceding 2 years. For the purposes of this part, the identity of a small business is not affected by name changes or changes in personnel.
History.—s. 50, ch. 2014-218.
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