Maryland Department of Business and Economic Development Section 5-1406

      (a)      For a project that the Department or the Authority determines to be a significant strategic economic development opportunity, the Department or the Authority may provide a loan from the Fund to an individual, a private business, a not for profit entity, or the Maryland Economic Development Corporation in an amount not exceeding $10,000,000.

      (b)      For a project that the Department or the Authority determines to be a local economic development opportunity, the Department or the Authority may provide financial assistance from the Fund to an individual, a private business, a not for profit entity, or the Maryland Economic Development Corporation in the following amounts:

            (1)      If a loan or investment, an amount not exceeding $5,000,000; and

            (2)      If a grant, an amount not exceeding $2,000,000.

      (c)      (1)      Financial assistance provided to a local government to finance a project may be in the form of a grant, loan, or investment and, except as provided in paragraph (2) of this subsection, may be for an amount not exceeding $3,000,000.

            (2)      Subject to § 5-1405(c)(1)(i) of this subtitle, financial assistance for a qualified distressed county project may be in an amount determined by the Department.

            (3)      A grant to a local economic development fund is subject to the requirements set forth in § 5-1407 of this subtitle.

      (d)      Financial assistance provided for a specialized economic development opportunity may be:

            (1)      Provided to an individual, private business, not for profit entity, or local government;

            (2)      In the form of a grant, loan, or investment; and

            (3)      In an amount determined by the Department or the Authority.