# COMAR 24.05.18.03: COMAR 24.05.18.03. Eligible Applicants

> Maryland · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_03

## Section

- **Citation:** COMAR 24.05.18.03
- **Heading:** COMAR 24.05.18.03. Eligible Applicants
- **Jurisdiction:** Maryland
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Code of Maryland Regulations / Title 24 DEPARTMENT OF COMMERCE / Subtitle 05 ECONOMIC DEVELOPMENT / Chapter 18 Maryland Economic Adjustment Fund / COMAR 24.05.18.03

## 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.

## Nearby sections

- [COMAR 24.05.18.01 COMAR 24.05.18.01. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_01.md)
- [COMAR 24.05.18.02 COMAR 24.05.18.02. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_02.md)
- [COMAR 24.05.18.03 COMAR 24.05.18.03. Eligible Applicants](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_03.md)
- [COMAR 24.05.18.04 COMAR 24.05.18.04. Priority](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_04.md)
- [COMAR 24.05.18.05 COMAR 24.05.18.05. Use of Loan Proceeds](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_05.md)
- [COMAR 24.05.18.06 COMAR 24.05.18.06. Loan Terms and Requirements](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_06.md)
- [COMAR 24.05.18.07 COMAR 24.05.18.07. Additional Requirements for Loans Made with Restricted Funds](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_07.md)
- [COMAR 24.05.18.08 COMAR 24.05.18.08. Application and Processing Procedures](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_08.md)
- [COMAR 24.05.18.09 COMAR 24.05.18.09. Grants](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_09.md)
- [COMAR 24.05.18.10 COMAR 24.05.18.10. Drug-Free and Alcohol-Free Workplace](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_10.md)
- [COMAR 24.05.18.11 COMAR 24.05.18.11. False Statements](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_11.md)
- [COMAR 24.05.18.12 COMAR 24.05.18.12. Waiver](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_12.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_24_05_18_03. Check the current official text before relying on it. Not legal advice.