620.1048. Definitions.
Definitions.
620.1048. As used in sections 620.1045 to 620.1063, the following termsmean:
(1) "Borrower", any small business that receives a loan with respect towhich an amount is added to a program loss reserve account as provided insections 620.1045 to 620.1063;
(2) "Department", the Missouri department of economic development;
(3) "Financial institution" or "institution", any bank, trust company,savings bank, credit union or savings and loan association with an office inMissouri which participates in the program;
(4) "Loan", a loan, sale and lease back, financial lease, conditionalsale or any other extension of credit;
(5) "Program", the Missouri capital access program established insections 620.1045 to 620.1063;
(6) "Small business", an independently owned and operated business asdefined in 15 U.S.C. 632(a) and as described by 13 CFR 121, which isheadquartered in and which employs at least eighty percent of its employees inMissouri, except that no such business shall have more than one hundredemployees nor shall such business's annual revenues have* exceeded fivemillion dollars in its most recently completed fiscal year. Such businessmust be involved in manufacturing, processing or assembling products,conducting research and development or providing services, but shall notinclude retail, real estate, insurance or professional services.
(L. 1994 H.B. 1248 & 1048 § 2)*Word "have" does not appear in original rolls.