South Carolina § 11-56-20 Definitions.

South Carolina Statutes

§ 11-56-20 — Definitions.

South Carolina § 11-56-20

Title 11PUBLIC FINANCE

Ch. 56MICROENTERPRISE DEVELOPMENT

This text of South Carolina § 11-56-20 (Definitions.) is published on Counsel Stack Legal Research, covering South Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.C. Code Ann. § 11-56-20 (2026).

Text

As used in this chapter:

(1)"Department" means the Department of Commerce.

(2)"Financial institution" means an organization authorized to do business under state or federal laws relating to financial institutions.

(3)"Microenterprise" means any business, whether new or existing, with five or fewer employees, including startup, home-based, and self-employed businesses.

(4)"Microloan" means any business loan up to twenty-five thousand dollars.

(5)"Microloan delivery organization" means a community-based or nonprofit program that has developed a viable plan for providing training, access to financing, and technical assistance for microenterprises.

(6)"Operating costs" means the costs associated with administering a loan or a loan guaranty, administering a revolving loan program, or prov

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As used in this chapter: (1) "Department" means the Department of Commerce. (2) "Financial institution" means an organization authorized to do business under state or federal laws relating to financial institutions. (3) "Microenterprise" means any business, whether new or existing, with five or fewer employees, including startup, home-based, and self-employed businesses. (4) "Microloan" means any business loan up to twenty-five thousand dollars. (5) "Microloan delivery organization" means a community-based or nonprofit program that has developed a viable plan for providing training, access to financing, and technical assistance for microenterprises. (6) "Operating costs" means the costs associated with administering a loan or a loan guaranty, administering a revolving loan program, or providing for business training and technical assistance to a microloan recipient. (7) "Program" means the Microenterprise Partnership Program. (8) "Statewide microlending support organization" means a community-based or nonprofit organization that has a demonstrated capacity and a plan for providing and administering grants or loans to microloan delivery organizations.