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L

Legal Entity
An business structure that has a legal standing in law.  This could be an association, corporation, partnership, proprietorship, trust, or an individual.  A legal entity has legal capacity to enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued in its own right, and to be held responsible for its actions.  Different structures that work in social enterprise are:  Community Land Trust (CLT), Community Benefit Society (CBS), Community Interest Company (CIC) – all of which are “legal entities”.

Lending Vehicle
A dedicated entity enabling the loan of money.