Current with changes from the 2024 Legislative Session
Section 5-1801 - Definitions(a) In this subtitle the following words have the meanings indicated.(b) "Borrower" means a business that: (1) qualifies as a small business under the U.S. Small Business Administration size standards;(2) applies to a lender for business financing; and(3) has fewer than 50 employees.(c) "Lender" means: (1) a credit union, as defined in § 1-101 of the Financial Institutions Article;(2) a financial institution, as defined in § 1-101 of the Financial Institutions Article; or(3) a community development financial institution as defined in 12 U.S.C. § 4702(5).(d) "Program" means the Capital Access Program established under § 5-1802 of this subtitle.Added by 2021 Md. Laws, Ch. 704,Sec. 1, eff. 10/1/2021.