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2013 Maryland Code
ECONOMIC DEVELOPMENT
§ 5-453 - Purpose


MD Econ Dev Code § 5-453 (2013) What's This?

§5-453.

(a) The purpose of the Program is to stimulate economic and employment growth in rural areas of the State with high unemployment.

(b) (1) The Program shall assist eligible businesses to obtain a loan at below market rates.

(2) An eligible business may use a Program loan to acquire land, buildings, and equipment.

(3) An acquisition made by an eligible business with a Program loan shall be used to create or retain employment opportunities in a rural area.

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