Utah Admin. Code R357-44-102 - Definitions
(1) As used in this program:
(a) "USBCI" means the State Small Business
Credit Initiative Program Fund;
(b)
"Financial institution" means an organization that meets USBCI requirements to
participate as a lending institution;
(c)
(i)
"Annual receipts" means grants made by the federal government and state
legislative appropriations;
(ii)
"Annual receipts" does not include program income;
(d) "Program income" means fees and interest
income generated by participation in the program;
(e) "USBCI Advisory Board" means a Board
consisting of members of industry and Go Utah;
(f) "USBCI Loan Review Committee" means an
operational Committee, consisting of members of the Go Utah operations team and
at least one member from industry; and
(g) "Red-flag" means an occurrence when a
loan, borrower, or lender exceeds a threshold or violates a term and is sent to
the USBCI Loan Review Committee for review.
Notes
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