Section 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.Utah Admin. Code R357-44-102
Adopted by Utah State Bulletin Number 2022-22, effective 10/27/2022