Economically Distressed Area Law and Legal Definition

According to 13 CFR 120.701 [Title 13 Business Credit and Assistance; Chapter I Small Business Administration; Part 120 Business Loans; Subpart G Microloan Program], Economically Distressed Area is "a county or equivalent division of local government of a state in which, according to the most recent available data from the United States Bureau of the Census, 40 percent or more of the residents have an annual income that is at or below the poverty level."