{"data":{"id":"us-md/md.-code-alcoholic-beverages-and-cannabis-36-1406","jurisdiction":"us-md","citation":"Md. Code, Alcoholic Beverages and Cannabis § 36–1406","heading":"","body":"(a) The Department shall establish a loan loss reserve account for a lender when the lender enrolls its first loan under the Program.\n(b) At the time of enrollment:\n(1) the borrower shall make a payment to the account of between 0% and 7% of the enrolled loan amount;\n(2) the lender shall make a payment to the account of at least 2% of the enrolled amount; and\n(3) the Administration shall make a matching payment to the account in an amount equal to the borrower and lender’s aggregate payment under items (1) and (2) of this subsection.\n(c) The loan loss reserve account of a lender shall be available for the lender to withdraw if a borrower defaults on a qualifying loan.\n(d) The Department shall collaborate with the Office of Social Equity established under § 9–4108 of the State Government Article to identify and assist businesses with obtaining financing from the Program.\n(e) The Department shall establish procedures for a lender to withdraw from the Program.","path":["Article - Alcoholic Beverages and Cannabis"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gab\u0026section=36-1406","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:03Z","sha256":"31b281970dd075d5307bf66405b9d0b0ec8c084974cc093e9e722eaafba84d58","source_id":"us-md","stale":false,"prev":"us-md/md.-code-alcoholic-beverages-and-cannabis-36-1405","next":"us-md/md.-code-alcoholic-beverages-and-cannabis-36-1501"},"notice":"GroundRules: Original legal text. Not legal advice."}