Economically Disadvantaged Entrepreneur Law and Legal Definition

According to 13 CFR 119.2 [Title 13 Business Credit and Assistance; Chapter I Small Business Administration; Part 119 Program for Investment in Microentrepreneurs ("Prime" or "The Act")], economically disadvantaged entrepreneur, or economically disadvantaged microentrepreneur, means an owner, majority owner, or developer of a microenterprise whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the industry such that his or her ownership of a small business would help to qualify the small business for assistance under section 7(j) or section 8(a) programs of the Small Business Act.