Regulations of Connecticut State Agencies
(a) "Capital assistance" means a loan provided to an eligible business organization under this section which is used to finance a fixed asset or working capital investment solely at the Northeast Connecticut business location of the eligible business organization.
(b) "Commissioner" means the commissioner of economic development.
(c) "Eligible business organization" means any private sole proprietorship, partnership or corporation duly engaged in for-profit activities in the areas of manufacturing, industrial, research, product warehousing or distribution, and offices related thereto, that either (1) has been doing business and maintained a business location in Northeast Connecticut for a period of at least one year prior to the date of its application for assistance under this section and whose gross revenues did not exceed ten million dollars in its most recently completed fiscal year prior to the date of such application; or (2) has been doing business and maintained a business location in Northeast Connecticut for a period of at least two calendar months but less than one year prior to the date of its application for assistance under this section and whose gross revenues did not exceed an average of six hundred thousand dollars per calendar month during such period.
(d) "Northeast Connecticut" means the geographic area of the municipalities of Ashford, Brooklyn, Canterbury, Chaplin, Eastford, Hampton, Killingly, Lebanon, Mansfield, Plainfield, Pomfret, Putnam, Scotland, Sterling, Thompson, Union, Voluntown, Windham and Woodstock.
(e) "Authority" means the Connecticut Development Authority.
(f) "Borrower" means any eligible business organization which has been issued a commitment for a loan under this program.
(g) "Department" means the Department of Economic Development.
(Effective October 29, 1986)