[Code of Federal Regulations]

[Title 15, Volume 3]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 15CFR1400.2]



[Page 439]

 

                  TITLE 15--COMMERCE AND FOREIGN TRADE

 

            CHAPTER XIV--MINORITY BUSINESS DEVELOPMENT AGENCY

 

PART 1400_DETERMINATION OF GROUP ELIGIBILITY FOR MBDA ASSISTANCE--Table 

of Contents

 

Sec. 1400.2  Definitions.



    For the purpose of this part:

    (a) Minority business enterprise means a business which is owned or 

controlled by one or more socially or economically disadvantaged 

persons.

    (b) Socially disadvantaged persons means those persons who have been 

subjected to cultural, racial or ethnic prejudice because of their 

identity as members of a group without regard to their individual 

qualities.

    (c) Economically disadvantaged persons means those persons whose 

ability to compete in the free enterprise system has been impaired due 

to diminished capital and credit opportunities because of their identity 

as members of a group without regard to their individual qualities, as 

compared to others in the same line of business and competitive market 

area.

    (d) Person means a citizen of the United States or an alien lawfully 

admitted for permanent residence.