Definitions for Microenterprise Development Act

As used in this section and ORS 285B.179: (1) “Local microenterprise support organization” means a community development corporation, a nonprofit development organization, a nonprofit social services organization or another locally operated nonprofit entity that provides services to disadvantaged entrepreneurs. (2) “Low income” means income adjusted for family size that does not exceed: (a) For metropolitan areas, 80 percent of median income; or (b) For nonmetropolitan areas, the greater of 80 percent of the area median income or 80 percent of the statewide nonmetropolitan area median income. (3) “Microenterprise” has the meaning given that term under 15 U.S.C. 6901, as amended and in effect on June 30, 2007. If 15 U.S.C. 6901 is amended or altered on or after July 1, 2007, the Oregon Business Development Department may adopt by rule a definition of “microenterprise” to give the term the meaning given in 15 U.S.C. 6901 as amended or altered. (4) “Microentrepreneur” means an individual conducting a microenterprise. (5) “Microlending” means the practice of lending moneys to microenterprises or microentrepreneurs. (6) “Statewide microenterprise support organization” means a community development corporation, a nonprofit development organization, a nonprofit social services organization or another nonprofit entity that serves as an intermediary between the department and local microenterprise support organizations. (7) “Training and technical assistance” means services and support offered to microenterprises and microentrepreneurs. “Training and technical assistance” includes, but is not limited to, services to enhance business development, asset building, business planning, marketing, management skills and access to financial services. (8) “Very low income” means income adjusted for family size that does not exceed 150 percent of the poverty level determined under 42 U.S.C. 9902, as amended and in effect on June 30, 2007. If 42 U.S.C. 9902 is amended or altered on or after July 1, 2007, the department may adopt by rule the standard for determining the federal poverty level under 42 U.S.C. 9902 as amended or altered.