{"data":{"id":"us-md/md.-code-economic-development-5-1205","jurisdiction":"us-md","citation":"Md. Code, Economic Development § 5–1205","heading":"","body":"(a) The Department shall designate at least one private nonprofit entity to receive grants from the Maryland Nonprofit Development Center Program Fund to implement the Program.\n(b) In selecting a designee, the Department shall consider and give priority to organizations that:\n(1) have experience in providing the scope of assistance and services required under § 5–1203 of this subtitle to qualifying nonprofit entities in the State;\n(2) demonstrate the capacity to provide the assistance and services required under § 5–1203 of this subtitle on a statewide basis; and\n(3) demonstrate current expenditures that:\n(i) are equal to at least three times the amount of funding received under this section; and\n(ii) have been received from other sources for the provision of assistance and services of the type required under § 5–1203 of this subtitle to nonprofit entities in the State.\n(c) (1) The Department may provide a no–interest bridge loan for operating expenses of up to $25,000 to a nonprofit entity that has received written confirmation of funding from a government grant or contract but has not yet received the funding.\n(2) The Department shall establish an application process for bridge loans provided under this subsection.\n(3) Before providing a bridge loan under this subsection, the Department shall receive written confirmation that the nonprofit entity has been awarded a government grant or contract but has not yet received the funding.\n(4) The Department shall establish a schedule for repayment for a bridge loan that:\n(i) is reasonable based on the nature and payment schedule of the government grant or contract to the nonprofit entity; and\n(ii) assures repayment of the bridge loan is completed no later than the date of the final grant or contract payment to the nonprofit entity.","path":["Article - Economic Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec\u0026section=5-1205","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:28Z","sha256":"5a9f14bc51b8f0bcccda262e36b2916ec8216ee4daf42a7733525dbbd74d9acf","source_id":"us-md","stale":false,"prev":"us-md/md.-code-economic-development-5-1204","next":"us-md/md.-code-economic-development-5-1301"},"notice":"GroundRules: Original legal text. Not legal advice."}