Ch. 511 LAWS OF MARYLAND
(B) THE APPLICATION SHALL INCLUDE:

(1) A DETAILED DESCRIPTION OF THE PROPOSED OR
EXISTING SEAFOOD PROCESSING INDUSTRY OR AQUACULTURE
INDUSTRY PROJECT;

(2) AN ITEMIZATION OF KNOWN AND ESTIMATED COSTS;

(3) THE TOTAL AMOUNT OF INVESTMENT REQUIRED TO
EXPAND OR DEVELOP THE SEAFOOD PROCESSING INDUSTRY OR
AQUACULTURE INDUSTRY PROJECT;

(4) THE FUNDS AVAILABLE TO THE APPLICANT WITHOUT
FINANCIAL ASSISTANCE FROM THE DEPARTMENT;

(5) THE AMOUNT OF FINANCIAL ASSISTANCE SOUGHT FROM
THE DEPARTMENT;

(6) EVIDENCE OF THE INABILITY OF THE APPLICANT TO
OBTAIN THE FINANCING NECESSARY FOR THE FACILITY ON
REASONABLE TERMS THROUGH NORMAL LENDING CHANNELS;

(7) INFORMATION THAT RELATES TO THE FINANCIAL STATUS
OF THE APPLICANT, INCLUDING, IF APPLICABLE:

(I) A CURRENT BALANCE SHEET;

(II) A PROFIT AND LOSS STATEMENT; OR

(III) CREDIT REFERENCES; AND

(8) ANY OTHER RELEVANT INFORMATION THAT THE
DEPARTMENT REQUESTS.

13-128.1.

(A) EXCEPT AS PROVIDED IN THIS PART, THE DEPARTMENT MAY
SET THE TERMS AND CONDITIONS FOR LOANS.

(B) IF THE DEPARTMENT DECIDES TO LEND MONEY TO AN
APPLICANT, THE DEPARTMENT SHALL PREPARE LOAN DOCUMENTS.

(C) THE LOAN DOCUMENTS SHALL INCLUDE:

(1) THE RATE OF INTEREST ON THE LOAN;

(2) THE AMOUNT OF THE LOAN;

(3) A REQUIREMENT THAT BEFORE EACH DISBURSEMENT OF
LOAN PROCEEDS IS RELEASED TO THE APPLICANT, THE APPLICANT AND
THE DEPARTMENT COSIGN THE REQUEST FOR THE FUNDS;

(4) PROVISIONS FOR REPAYMENT OF THE LOAN; AND

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