Current with changes from the 2024 Legislative Session
Section 36-1404 - Qualifying loan(a) A loan to a social equity licensee qualifies under the Program if the loan: (1) satisfies the lending criteria of the lender; and(2) does not exceed: (i) for a dispensary, $500,000; or(ii) for a grower or processor, $1,000,000.(b) A loan that qualifies under subsection (a) of this section may be short or long term, have fixed or variable rates, and be secured or unsecured.Added by 2023 Md. Laws, Ch. 255, Sec. 5, eff. 5/3/2023.Added by 2023 Md. Laws, Ch. 254, Sec. 5, eff. 5/3/2023.