Md. Code, Econ. Dev. § 5-1801

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.

Md. Code, EC § 5-1801

Added by 2021 Md. Laws, Ch. 704,Sec. 1, eff. 10/1/2021.