30 ILCS 750/9-2
2021 Illinois Compiled Statutes|Chapter 30 - FINANCE|30 ILCS 750/ - Build Illinois Act.|Article 9

 (from Ch. 127, par. 2709-2)Sec. 9-2. Definitions. The following terms,  whenever used or referred to in this Article, shall have the  following meanings ascribed to them, except where the context  clearly requires otherwise:(a) "Financial intermediary" means  a community development corporation, a state  development credit corporation, a development authority authorized to do  business by an act of this State, or other public or  private financing  institution  approved by the Department whose purpose includes financing, promoting, or  encouraging economic development.(b) "Participating lender" means any trust company,  bank, savings bank, credit union, merchant bank, investment bank, broker,  investment trust, pension fund, building and loan association,  savings and loan association, insurance company, venture capital company or  other  institution approved by the Department which assumes a  portion of the financing for a business project.(c) "Department" means the Illinois Department of Commerce  and  Economic Opportunity.(d) "Small business" means any for-profit business  in Illinois including, but not limited to, any sole proprietorship,  partnership, corporation, joint venture, association or  cooperative, which has, including its affiliates, less than  500 full time employees, or is determined by the Department  to be not dominant in its field.Business concerns are affiliates of one another  when either directly or indirectly (i) one concern controls  or has the power to control the other, or (ii) a third party  or parties controls or has the power to control both.  Control can be exercised through common ownership, common  management and contractual relationships.(e) "Qualified security" means any note, stock,  convertible security, treasury stock, bond, debenture,  evidence of indebtedness, limited partnership interest,  certificate of interest or participation in any profit-sharing  agreement, preorganization certificate or subscription,  transferable share, investment contract, certificate of  deposit for a security, certificate of interest or participation  in a patent or application therefor, or in royalty or  other payments under such a patent or application, or, in  general, any interest or instrument commonly known as a  "security" or any certificate for, receipt for, guarantee of,  or option, warrant or right to subscribe to or purchase any  of the foregoing, but not including any instrument which  contains voting rights or can be converted to contain voting  rights in the possession of the Department.(f) "Loan agreement" means an agreement  or contract to provide a loan or accept a mortgage or to  purchase qualified securities or other means whereby financial  aid is made available to a start-up, expanding, or mature, moderate risk  small business.(g) "Loan" means a loan or acceptance  of a mortgage or the purchase of qualified securities or  other means whereby financial aid is made to a start-up, expanding, or  mature,  moderate risk small business.(h) "Equity investment agreement" means an agreement  or contract to provide a loan or accept a mortgage or to  purchase qualified securities or other means whereby financial  aid is made available to or on behalf of a young, high risk,  technology based small business.(i) "Equity investment"  means a loan or acceptance  of a mortgage or the purchase of qualified securities  or other means whereby financial aid is made to or on behalf of a young,  high  risk, technology based small business.(j) "Project" means any specific economic development  activity of a commercial, industrial, manufacturing,  agricultural, scientific, service or other business, the  result of which is expected to yield an increase in or retention of jobs  or  the modernization or improvement of competitiveness of firms and may include  working capital financing, the purchase or lease of machinery  and equipment, or the lease or purchase of real property but  does not include refinancing current debt.(k) "Technical assistance agreement" means an agreement or contract or  other means whereby financial aid is made available to not-for-profit  organizations for the purposes outlined in Section 9-6 of this Article.(l) "Financial intermediary agreement" means an agreement or contract  to provide a loan, investment, or other financial aid to a financial  intermediary for the purposes outlined in Section 9-4.4 of this Article.(m) "Equity intermediary agreement" means an agreement or contract to  provide a loan, investment, or other financial aid to a financial intermediary  for the purposes outlined in Section 9-5.3 of this Article.(n) "Other investor" means a venture capital  organization or association; an investment partnership, trust  or bank; an individual, accounting partnership or corporation  that invests funds, or any other entity which provides debt  or equity financing for a business project.(o) "Veteran" means an Illinois resident who has served as a member of the United States Armed Forces on active duty or State active duty, a member of the Illinois National Guard, or a member of the United States Reserve Forces and who has received an honorable discharge. (Source: P.A. 96-1106, eff. 7-19-10.)