if privately owned, 51 percent is owned by one or more socially and economically-disadvantaged individuals;

if publicly owned, 51 percent of the stock is owned by one or more socially and economically-disadvantaged individuals; and

in the case of a mutual institution, a majority of the Board of Directors, account holders, and the community which the institution services is predominantly comprised of socially and economically disadvantaged individuals.

individuals who have been subjected to racial or ethnic prejudice or cultural bias because of their identity as a member of a group without regard to their individual qualities.

individuals whose ability to compete in the free enterprise system has been impaired due to diminished capital and credit opportunities as compared to others in the same business area who are not socially disadvantaged