For the purposes of this subchapter, the term: “Capital access loan” means a loan that is entitled to be secured by the Fund. “Enrolled loan” means a capital access loan issued in accordance with: The participation agreement; and The program’s objectives. “Financial institution” includes a bank, trust company, banking association, savings and loan association, mortgage company, investment bank, credit union, or nontraditional financial institution. “Fund” means the Capital Access Fund established by § 2-1210.02 . “Loan” includes a line of credit. “Medium-sized business” means a corporation, partnership, sole proprietorship, or other legal entity that: Is domiciled in the District of Columbia or has at least 51% of its employees located in the District of Columbia; Is formed to make a profit; and Employs at least 100, but fewer than 500, full-time employees. “Nonprofit organization” means a corporation, association, or organization which is tax-exempt under section 501(c)(3) of the Internal Revenue Code of 1986, approved August 16, 1954 (68A Stat. 163; 26 U.S.C. § 501(c)(3)), that: Is domiciled in the District of Columbia; or Has at least 51% of its members located in the District of Columbia. “Participating financial institution” means a financial institution participating in the program. “Program” means the Capital Access Program. “Reserve account” means an account established in a participating financial institution on approval of the bank in which money is deposited to serve as a source of additional revenue to reimburse the financial institution for losses on loans enrolled in the program. “Small business” means a corporation, partnership, sole proprietorship, or other legal entity that: Is domiciled in the District of Columbia or has at least 51% of its employees located in the District of Columbia; Is formed to make a profit; Is independently owned and operated; and Employs fewer than 100 full-time employees.
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