1. Short title This Act may be cited as the Unlocking Opportunities in Emerging Markets Act of 2020 . 2. Office of Emerging Markets Section 7 of the Small Business Act ( 15 U.S.C. 636 ) is amended by adding at the end the following: (o) Office of Emerging Markets (1) Definitions In this subsection— (A) the term Associate Administrator means the Associate Administrator of the Office of Capital Access of the Administration; (B) the term Director means the Director of the Office of Emerging Markets; (C) the term microloan program means the program described in subsection (m); (D) the term Reservist means a member of a reserve component of the Armed Forces named in section 10101 of title 10, United States Code; (E) the term rural area has the meaning given the term in subsection (m)(11); (F) the term service-connected has the meaning given the term in section 101 of title 38, United States Code; and (G) the term small business concern in an emerging market means a small business concern— (i) that is located in— (I) a low-income or moderate-income area for purposes of the Community Development Block Grant Program under title I of the Housing and Community Development Act of 1974; (II) a HUBZone as defined in section 31(b); (III) a community that has been designated as an empowerment zone or an enterprise community under section 1391 of the Internal Revenue Code of 1986; (IV) a community that has been designated as a Promise Zone by the Secretary of Housing and Urban Development; (V) a community that has been designated as a qualified opportunity zone under section 1400Z–1 of the Internal Revenue Code of 1986; or (VI) a rural area; (ii) that has more than 50 percent of employees residing in a low- or moderate-income community; (iii) that is growing, newly established, or a startup, as those terms are used in subsection (m)