The purpose of this Part is to set forth the application process, determine eligibility and codify administration by the corporation for the Small- and Medium-Sized Business Assistance Program authorized by the Omnibus Economic Development Act of 1987, chapter 839 of the Laws of 1987. The purpose of the program is to provide financial assistance to small- and medium-sized businesses to facilitate the retention, promotion, development and diversification of these businesses, the reduction of the costs of business and production for such enterprises, the expansion of employment opportunities, the expansion of existing small- and medium-sized industrial enterprises, and the location in the State of additional small- and medium-sized industrial enterprises. The program will also seek to establish affirmative action goals for participation in projects by minorities and women.