Terms Used In Louisiana Revised Statutes > Title 51 > Chapter 39 > Part III - Louisiana Small Business Incubator Program

• Applicant: means a private nonprofit or public entity located in this state. See Louisiana Revised Statutes 51:2322
• Bonds: means any bond, refunding bond, note, debenture, interim certificate or any bond, grant, or any other evidences of indebtedness of the corporation whether in temporary or in definitive form and whether or not exempt from federal taxation. See Louisiana Revised Statutes 51:2303
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Corporation: means the Louisiana Economic Development Corporation. See Louisiana Revised Statutes 51:2322
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Program: means the Louisiana Small Business Incubator Program. See Louisiana Revised Statutes 51:2322
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Small business incubator: means a multi-tenanted facility which is characterized by shared business services, equipment, space, and access to on-premises business consultants for tenants and which is operated by a private nonprofit or public entity. See Louisiana Revised Statutes 51:2322