(a) For purposes of this part, âmicroenterpriseâ means a sole proprietorship, partnership, limited liability company, or corporation that meets both of the following requirements: (1) Has five or fewer employees, including the owner, who may be part time or full time. (2) Generally lacks sufficient access to loans, equity, or other financial capital. (b) For purposes of this part, âmicroenterprise development providerâ means a nonprofit organization or public agency that provides self-employment training, technical assistance, and access to microloans to individuals seeking to become self-employed or to a microenterprise seeking to expand its current business.
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