New Jersey Statutes 34:1B-350. Definitions
Terms Used In New Jersey Statutes 34:1B-350
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
“Authority” means the New Jersey Economic Development Authority established by section 4 of P.L.1974, c.80 (C. 34:1B-4).
“Board” means the Board of the New Jersey Economic Development Authority, established by section 4 of P.L.1974, c.80 (C. 34:1B-4).
“Eligible microbusiness” means a business enterprise located in the State that produces goods or provides services and has fewer than 10 full-time employees and annual gross revenue of less than $1,500,000 at the time of application for a loan under the program.
“Eligible small business” means any business that satisfies the criteria set forth in subsection b. of section 85 of P.L.2020, c.156 (C. 34:1B-352) at the time of application for a grant under the program.
“Program” means the Main Street Recovery Finance Program established pursuant to section 84 of P.L.2020, c.156 (C. 34:1B-351).
“Small business” means a business engaged in the conduct of a trade or business in this State that qualifies as a “small business concern” within the meaning of the federal “Small Business Act,” Pub.L.85-536 (15 U.S.C. § 631 et seq.) for the purpose of the small business’s eligibility assistance from the United States Small Business Administration.
L.2020, c.15 6, s.83; amended 2021, c.160, s.39.