Ch. 209                                   2004 LAWS OF MARYLAND

(2)     The age and number of abandoned structures;

(3)     The age and number of substandard structures;

(4)     The income of residents relative to State or regional median incomes,
including the number of persons who are welfare recipients or unemployed;

(5)     The extent of unemployment and the availability in the area of jobs
for residents of the designated neighborhood;

(6)     The need for financing for small businesses, NONPROFIT
ORGANIZATIONS, OR MICROENTERPRISES in order to upgrade the social and economic
conditions of the designated neighborhood;

(7)     The neighborhood development or redevelopment strategy of the local
jurisdiction for the designated neighborhood and any plans and financial commitment
of the local jurisdiction to undertake improvements in the designated neighborhood;
and

(8)     Other standards and criteria deemed relevant by the Department as
set forth in regulations, including standards established for other relevant State or
federal programs.

4-204.

(a) Financial assistance under the Business Development Program may be
provided to a small business, NONPROFIT ORGANIZATION, OR MICROENTERPRISE in
any of the following forms:

(1)     Grant;

(2)     Loan;

(3)     Reduction in the principal obligation of or rate of interest payable on
a loan or portion of a loan;

a loan;

(4) Prepayment of interest on a subordinate or superior loan or portion of

(5)     Assurance;

(6)     Guarantee; or

(7)     Any other form of credit enhancement.

(b)     The Department shall review all applications for financial assistance.

(c)     Applications shall be submitted by an applicant, which may be a [for profit
or nonprofit] small business, NONPROFIT ORGANIZATION, OR MICROENTERPRISE.

(d)     To qualify for financial assistance, the application must demonstrate that:

(1) The project has significant commitments for funding from other
private and nonstate public sources that are sufficient to complete the project with
the funds from the Neighborhood Business Development Fund;

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