Terms Used In California Codes > Health and Safety Code > Division 27 > Chapter 1 > Article 8 - Capital Access Loan Program for Small Businesses

• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Authority: means the California Pollution Control Financing Authority. See California Health and Safety Code 44559.1
• California Capital Access Fund: means a fund created within the authority to be used for purposes of the program. See California Health and Safety Code 44559.1
• Contract: A legal written agreement that becomes binding when signed.
• Director: means "State Director of Health Services. See California Health and Safety Code 21
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Executive director: means the Executive Director of the California Pollution Control Financing Authority. See California Health and Safety Code 44559.1
• Financial institution: means a federal- or state-chartered bank, savings association, credit union, not-for-profit community development financial institution certified under Part 1805 (commencing with Section 1805. See California Health and Safety Code 44559.1
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Loss reserve account: means an account in the State Treasury or any financial institution that is established and maintained by the authority for the benefit of a financial institution participating in the Capital Access Loan Program established pursuant to this article for the purposes of the following:

  California Health and Safety Code 44559.1

• Participating financial institution: means a financial institution that has been approved by the authority to enroll qualified loans in the program and has agreed to all terms and conditions set forth in this article and as may be required by any applicable federal law providing matching funding. See California Health and Safety Code 44559.1
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Passive real estate ownership: means ownership of real estate for the purpose of deriving income from speculation, trade, or rental, but does not include any of the following:

  California Health and Safety Code 44559.1

• Person: means any person, firm, association, organization, partnership, business trust, corporation, limited liability company, or company. See California Health and Safety Code 19
• Personal property: All property that is not real property.
• Program: means the Capital Access Loan Program created pursuant to this article. See California Health and Safety Code 44559.1
• Qualified business: means a small business concern that meets both of the following criteria, regardless of whether the small business concern has operations that affect the environment:

  California Health and Safety Code 44559.1

• Qualified loan: means a loan or a portion of a loan made by a participating financial institution to a qualified business for any business activity that has its primary economic effect in California. See California Health and Safety Code 44559.1
• Severely affected community: means any area classified as an enterprise zone pursuant to the Enterprise Zone Act (Chapter 12. See California Health and Safety Code 44559.1
• Small Business Assistance Fund: means a fund created within the authority pursuant to Section 44548. See California Health and Safety Code 44559.1
• State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23
• Trustee: A person or institution holding and administering property in trust.