COMAR 24.05.18.03. Eligible Applicants

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Code of Maryland Regulations › Title 24 DEPARTMENT OF COMMERCE › Subtitle 05 ECONOMIC DEVELOPMENT › Chapter 18 Maryland Economic Adjustment Fund › COMAR 24.05.18.03

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

To qualify for a loan, an applicant shall:

A. Be a new or existing business entity in good standing and qualified to do business in Maryland;

B. Have the legal capacity and all necessary legal authorization to incur the obligations of the loan;

C. Demonstrate creditworthiness and repayment capability acceptable to the Department;

D. Meet any additional requirements imposed by any source of the funds to be loaned; and

E. In the reasonable determination of the Department, be unable to obtain the financing necessary for the activities described in the applicant's strategic business plan on affordable terms through normal lending channels.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.