|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 91
|
|
|
|
|
612
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(A) Subject to the restrictions of this Part IV, the
Authority, on application, may provide to an applicant from the
[general] CONTRACT FINANCING fund the following financial
assistance:
(1) [(i)] A guarantee of a loan made to the
applicant;
[(ii)] (2) A guarantee of an equity investment in the
applicant; or
[(iii)] (3) If the applicant is unable to obtain
money from any other source, a loan to the applicant.
[(2)] (B) In providing financial assistance, the
Authority shall recognize the need to serve applicants from all
political subdivisions of the State.
13-228.
(a) The Authority may utilize the [general] CONTRACT
FINANCING fund to guarantee a loan made to an applicant only if:
(1) The applicant meets the qualifications required
by this subtitle;
(2) The loan is to be used to perform a contract for
a project that a federal, State, or local government finances;
(3) The part of the loan to be guaranteed does not
exceed $150,000; and
(4) The loan to be guaranteed is to be used primarily
for working capital.
(b) A guaranty that the Authority makes shall be limited to
not more than the term of the government contract, unless the
Authority finds that a longer term better carries out the
purposes of this subtitle.
13-229.
(a) The Authority may utilize the [general] CONTRACT
FINANCING fund to guarantee a person's proposed equity investment
in the applicant only if:
(1) The applicant meets the requirements of this
subtitle;
(2) The amount of the equity investment to be
guaranteed does not exceed the lesser of:
(i) 10 percent of the person's equity
investment in the applicant; or
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
