704

LAWS OF MARYLAND

Ch. 33

(3)   THE APPLICANT IS A CITIZEN OF THE UNITED
STATES; AND

(4)   THE APPLICANT IS UNABLE TO OBTAIN ADEQUATE
BUSINESS FINANCING ON REASONABLE TERMS THROUGH NORMAL
LENDING CHANNELS BECAUSE THE APPLICANT:

(I)   BELONGS TO A GROUP THAT HISTORICALLY
HAS BEEN DEPRIVED OF ACCESS TO NORMAL ECONOMIC OR FINANCIAL
RESOURCES BECAUSE OF RACE, COLOR, CREED, SEX, RELIGION, OR
NATIONAL ORIGIN;

(II)   HAS AN IDENTIFIABLE PHYSICAL HANDICAP
THAT SEVERELY LIMITS THE ABILITY OF THE APPLICANT TO OBTAIN
FINANCIAL ASSISTANCE, BUT DOES NOT LIMIT THE ABILITY OF THE
APPLICANT TO PERFORM THE GOVERNMENT CONTRACT; OR

(III)   HAS ANY OTHER SOCIAL OR ECONOMIC
IMPEDIMENT THAT IS BEYOND THE PERSONAL CONTROL OF THE
APPLICANT, SUCH AS LACK OF FORMAL EDUCATION OR FINANCIAL
CAPACITY OR GEOGRAPHICAL OR REGIONAL ECONOMIC DISTRESS BUT
THAT DOES NOT LIMIT THE ABILITY OF THE APPLICANT TO PERFORM
THE GOVERNMENT CONTRACT.

(C)   BUSINESS ENTERPRISE.

IF THE APPLICANT IS OTHER THAN A SOLE PROPRIETORSHIP,
AT LEAST 70 PERCENT OF THE BUSINESS ENTERPRISE SHALL BE
OWNED BY INDIVIDUALS WHO MEET THE QUALIFICATIONS FOR
APPLICANTS UNDER SUBSECTION (B) OF THIS SECTION.

(D)   GUARANTEES OF LOANS.

IN ADDITION TO THE OTHER REQUIREMENTS OF THIS SECTION,
AN APPLICANT FOR A GUARANTEE OF A LOAN SHALL HAVE APPLIED
FOR AND BEEN DENIED A LOAN.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 4 1, §
266HH-2 (b) through (d) and the second clause of §
266HH-5(5).

In subsection (b) of this section, the term
"Authority" is substituted for the reference to
the "Department", which appears to have been an
erroneous reference, as applications are made to
the Authority.

Subsection (b)(3) of this section is revised to
extend the citizenship requirements to all
individuals who apply for financial assistance.

In subsection (b) (4) (ii) and (iii) of this
section, the word "government" is added to modify
the term "contract", for clarity. In this
regard, see § 13-202 of this subtitle.