CA AB674

Amends the definition of microenterprise to include limited liability companies in addition to sole proprietorships, partnerships, and corporations.

Requires microenterprises to have five or fewer employees (including the owner) and generally lack sufficient access to loans, equity, or other financial capital.

Removes statutory language that distinguished microenterprises from small businesses or microbusinesses.

Expands the definition of microenterprise development provider to include nonprofit organizations and public agencies providing self-employment training, technical assistance, and microloans to both individuals seeking self-employment and existing microenterprises seeking to expand.