§ 1002.102 Definitions.

In this subpart: (a) Affiliate means, with respect to a financial institution, any company that controls, is controlled by, or is under common control with, another company, as set forth in the Bank Holding Company Act of 1956 (12 U.S.C. 1841 et seq.). With respect to a business or an applicant, affiliate shall have the same meaning as in 13 CFR 121.103. (b) Applicant means any person who requests or who has received an extension of business credit from a financial institution. (c) Business is defined in § 1002.106(a). (d) Business credit shall have the same meaning as in § 1002.2(g). (e) Closed-end credit transaction means an extension of business credit that is not an open-end credit transaction under paragraph (n) of this section. (f) Covered application is defined in § 1002.103. (g) Covered credit transaction is defined in § 1002.104. (h) Covered financial institution is defined in § 1002.105(b). (i) Credit shall have the same meaning as in § 1002.2(j). (j) Financial institution is defined in § 1002.105(a). (k)-(l) [Reserved] (m) Minority-owned business means a business for which one or more American Indian or Alaska Native, Asian, Black or African American, Native Hawaiian or Other Pacific Islander, or Hispanic or Latino individuals hold more than 50 percent of its ownership or control, and for which more than 50 percent of the net profits or losses accrue to one or more such individuals. (n) Open-end credit transaction means an open-end credit plan as defined in Regulation Z, 12 CFR 1026.2(a)(20), but without regard to whether the credit is consumer credit, as defined in § 1026.2(a)(12), is extended by a creditor, as defined in § 1026.2(a)(17), or is extended to a consumer, as defined in § 1026.2(a)(11). (o) Principal owner means an individual who directly owns 25 percent or more of the equity interests of a business. (p) Small business is defined in § 1002.106(b). (q) Small business lending application register or register means the data reported, or required to be reported, annually pursuant to § 1002.109. (r) State shall have the same meaning as in § 1002.2(aa). (s) Women-owned business means a business for which more than 50 percent of its ownership or control is held by one or more women, and more than 50 percent of its net profits or losses accrue to one or more women.