HANDICAPPED A term often used synonymously with
"Disabled" to indicate individuals whose physically or mental
abilities prevent them from fully function in normal activities. The Americans
with Disabilities Act (ADA) gives federal civil rights protections to individuals
with disabilities similar to those provided to individuals on the basis of
race, color, sex, national origin, age, and religion. It guarantees equal
opportunity for individuals with disabilities in public accommodations,
employment, transportation, State and local government services, and
telecommunications.
HARDWARE A term used to describe the mechanical,
electrical and electronic elements of a data processing system.
HAZARD INSURANCE Insurance required showing lender as loss
payee covering certain risks on real and personal property used for securing
loans.
HELP DESK SBA maintains an Answer Desk staffed with
multi-lingual personnel. You may either call them free or send an e-mail.
HUBZone Historically Underutilized Business Zones
Through the HUBzone Empowerment Contracting program federal contracting
opportunities are provided for qualified small businesses located in distressed
areas. Fostering the growth of these federal contractors as viable businesses,
for the long term, helps to empower communities, create jobs, and attract
private investment.
INCOME STATEMENT Financial statement showing a company's
sales, expense and net income or loss for a specific period of time.
INCUBATOR A facility designed to encourage
entrepreneurship and minimize obstacles to new business formation and growth,
particularly for high technology firms, by housing a number of fledgling
enterprises that share an array of services. These shared services
may include meeting
areas, secretarial services, accounting services, research libraries, on-site
financial and management counseling and word processing facilities.
INDEPENDENT AND QUALIFIED PUBLIC ACCOUNTANTS Public accountants
are independent when neither they nor any of their family have a material,
direct or indirect financial interest in the borrower other than as an
accountant. They are qualified, unless there is contrary evidence, when they
are either (1) certified, licensed, or otherwise registered if so required by
the state in which they work, or(2) have worked as a public accountant for at
least five years and are accepted by SBA.
INDUSTRIAL REVENUE BOND (IRB) A tax-exempt bond
issued by a state or local government agency to finance industrial or
commercial projects that serve a public good. The bond usually is not backed by
the full faith and credit of the government that issues it, but is repaid
solely from the revenues of the project and requires a private sector commitment
for repayment.
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