(a) Affirmative action program shall mean a program developed by the affirmative action department of the corporation establishing goals for minority and women participation in business and employment opportunities for any given project receiving financial assistance from the loan fund.

(b) Appropriating legislation shall mean chapter 54, section 1, of the Laws of 1988; and chapter 54, section 3, of the Laws of 1988 reappropriating the appropriation made by chapter 839, section 29, of the Laws of 1987, and the appropriation made by chapter 54, section 1, of the Laws of 1986, as amended by chapter 54, section 3, of the Laws of 1987, together with all subsequent legislation appropriating or reappropriating funds for the program.

(c) Business development loan shall mean a loan for the purposes described in, and meeting the criteria enumerated in section 4213.5(a) of this Part.

(d) Certification shall mean the official determination of a business enterprise as a bona fide Minority-Owned Business Enterprise and/or Women-Owned Business Enterprise.

(e) Certifying agency shall mean a New York State agency, department, public benefit corporation or public authority designated by the State Certification Director to administer the State certification procedure.

(f) Corporation or UDC shall mean the New York State Urban Development Corporation, a public benefit corporation created by chapter 174 of the Laws of 1968, as amended.

(g) Distressed area shall mean an area meeting the criteria for socioeconomic distress or economic deterioration set forth in section 4212.3(d) of this Title.

(h) Eligible banking organization shall mean any national bank, Federal savings and loan association, Federal credit union, any agency or branch of a foreign banking corporation licensed by the State Banking Department under the State Banking Law, and any organization defined as a banking organization under section 2(11) of the State Banking Law.

(i) Eligible enterprise shall mean an enterprise that is eligible for assistance from the loan fund and not ineligible for such assistance under the provisions of section 4213.3 of this Part.

(j) Entrepreneurial assistance loan shall mean a loan for the purposes described in, and meeting the criteria enunciated in section 4213.5(d) of this Part.

(k) Franchise loan shall mean a loan for the purposes described in, and meeting the criteria enumerated in section 4213.5(c) of this Part.

(l) Government contractor loan shall mean a loan for the purposes described in, and meeting the criteria enumerated in section 4213.5(b) of this Part.

(m) Government-sponsored residential construction loan shall mean a loan for the purposes described in, and meeting the criteria enumerated in section 4213.5(g) of this Part.

(n) Linked deposit loan shall mean a loan for the purposes described in, and meeting the criteria enumerated in section 4213.5(e) of this Part.

(o) Loan fund shall mean the minority and women business development and revolving loan fund authorized and to be funded from the appropriations and reappropriations set forth in the appropriating legislation.

(p) Loan guarantee shall mean a guarantee for the purposes described in, and meeting the criteria enumerated in section 4213.5(f) of this Part.

(q) Minority-Owned Business Enterprise (MBE) shall mean any business enterprise which is at least 51 percent owned, or in the case of a publicly owned business, at least 51 percent of the common stock of which is owned, by United States citizens or permanent resident aliens who are minority persons, and such ownership must have and exercise the authority to independently control the daily or day-to-day decisions of the entity and must have had and exercised such authority and control for, generally, at least one year prior to the application date.

(r) Minority or minority person shall mean:

(s) Nationally recognized corporations shall mean any franchiser corporation registered with the State Attorney General in accordance with New York law, authorized to do business, having operations in at least three states and having at least 15 franchised locations.

(t) Program shall mean the Minority and Women Business Development and Revolving Loan Fund Program established pursuant to the appropriating legislation.

(u) Program assistance shall mean financial assistance from the corporation utilizing funds from the loan fund in the form of a business development loan, an entrepreneurial assistance loan, a government contractor loan, a franchise loan, a deposit in connection with a linked deposit loan, a loan guarantee, or a government-sponsored residential construction loan.

(v) State Certification Director shall mean the head of the Governor's Office of Minority- and Women-Owned Business Development, who is appointed by the Governor and is a member of the Executive Chamber of the State.

(w) UDC Act shall mean chapter 174 of the Laws of 1968, as amended.

(x) Women-Owned Business Enterprise (WBE) shall mean any business enterprise which is at least 51 percent owned, or in the case of a publicly owned business, at least 51 percent of the common stock of which is owned by United States citizens or permanent resident aliens who are women, regardless of race or ethnicity, and such ownership interest is real, substantial and continuing. The women ownership must have and exercise the authority to independently control the daily or day-to-day business decisions of the entity and must have had and exercised such authority and control for, generally, at least one year prior to the application date.