As used in this division, unless the context otherwise requires:
1. "Financial institution" means an institution listed in section 422.61, subsection 1, or such other financial institution as defined by the department for purposes of this division.
2. "Program" means the loan and credit guarantee program established in this division.
3. "Qualified business" means an existing or proposed business entity with an annual average number of employees not exceeding two hundred employees. "Qualified business" does not include businesses engaged primarily in retail sales, real estate, or the provision of health care or other professional services. "Qualified business" includes professional services businesses that provide services to targeted industry businesses or other entities.
4. "Targeted industry business" means an existing or proposed business entity, including an emerging small business or qualified business which is operated for profit and which has a primary business purpose of doing business in at least one of the targeted industries designated by the department which include life sciences, software and information technology, advanced manufacturing, value-added agriculture, and any other industry designated as a targeted industry by the loan and credit guarantee advisory board.
2003 Acts, 1st Ex, ch 1, §103, 133
For future repeal of this section effective June 30, 2010, see 2003 Acts, 1st Ex, ch 1, §114
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