Minn. R. agency 140, ch. 4355, pt. 4355.0200 - DEFINITIONS
For the purposes of this chapter the terms in this part and in Minnesota Statutes, section 116M.14, have the meanings given.
"Grant agreements" means an agreement between the state and a nonprofit corporation through which the state provides funds to carry out specified programs, services, or activities.
"Nonprofit corporation" means a not-for-profit organization operating in one or more eligible cities and certified by the board to receive grants and disburse these funds in the nature of loans to qualifying businesses.
"Nonprofit revolving loan fund" means a board-certified revolving loan fund established by a nonprofit corporation to provide loans to new and expanding businesses in low-income areas.
"Urban revolving loan fund" means a fund established by the board to make grants to nonprofit corporations.
Notes
Statutory Authority: MS s 116M.18
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