13 CFR 123.500 - Definitions.
The following terms have the same meaning wherever they are used in this subpart:
(a)Essential employee is an individual (whether or not an owner of a small business) whose managerial or technical expertise is critical to the successful day-to-day operations of a small business.
(c)Period of military conflict means:
(1) A period of war declared by the Congress,
(2) A period of national emergency declared by the Congress or by the President, or
(3) A period of contingency operation, as defined in 10 U.S.C. 101(a).
(d)Principal owner is a person or entity which owns 20 percent or more of the small business.
(e)Substantial economic injury means an economic harm to the small business such that it cannot:
(1) Meet its obligations as they mature,
(2) Pay its ordinary and necessary operating expenses, or
(3) Market, produce or provide a product or service ordinarily marketed, produced or provided by the business. Loss of anticipated profits or a drop in sales is not considered substantial economic injury for this purpose.