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Glossary of TermsSome of the following definitions used in this Directory have been adopted from the 1996 Directory of U.S. Microenterprise Programs published by the Self-Employment Learning Project (SELP) in collaboration with the Association for Enterprise Opportunity (AEO). Micro loan: As defined by the Nebraska Microenterprise Development Act (LB 327), a micro loan is any business loan under $25,000 that cannot be accessed by a micro business owner through commercial lenders. Microenterprise (or micro business): A microenterprise is a sole proprietorship, partnership or family business that has fewer than five employees, including the owner. Nebraska Microenterprise Development Act (LB 327): This law was passed by the Nebraska Legislature in June 1997 and takes as its purposes, among other things, to better assure that Nebraska's microenterprises are able to realize their full potential to create jobs, enhance entrepreneurial skills and activity, and increase low-income households capacity to become self-sufficient. Practitioner program: This is an agency or organization, typically a non-profit corporation, that provides micro loans, training or technical assistance directly to owners or would-be owners of a micro business. Self-employment: According to a U. S. Department of Labor standard, self-employed persons are those who work for profit or fees in their own business, profession or trade, or operate a farm. The person must work ten hours or more a week to be considered self-employed. Support program: This is an intermediary organization whose main purpose is to provide services to practitioner programs. The range of services may include program planning and design assistance, staff training, research, evaluation and financial assistance. While some support programs may also deal directly with microenterprises, the support programs are targeted to practitioner programs. |
| Nebraska Micro Business Resource Directory 2006 |
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