Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart C - Loans
Chapter 73 - PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY
Subchapter A - GENERAL PROVISIONS
MISCELLANEOUS
Section 73.56 - Small businesses
Current through Register Vol. 54, No. 44, November 2, 2024
(a) In determining whether a business qualifies as a small business, and therefore is eligible for increased Agency participation, the Authority will require the principals of the business and the business itself to submit a disclosure statement listing the ownership interests held by the principals or the business in other businesses. This disclosure statement will include the percentage of the interest owned and the annual full-time equivalent employes of the other business. If the interest owned by the principals or the business is 51% or more, the Authority will consider the other business to be an affiliate of the business and the annual full-time equivalent employment of the other business will be used in determining the total full-time equivalent employment of the business.
(b) The annual basis for determining full-time equivalent employment will be the 12 months preceding the date on which the application is submitted to the Authority.
