{"data":{"id":"us-md/md.-code-economic-development-5-206","jurisdiction":"us-md","citation":"Md. Code, Economic Development § 5–206","heading":"","body":"(a) Except as otherwise provided in this subtitle, the Department may set the terms and conditions for loans and grants made under this subtitle.\n(b) The Department shall:\n(1) determine whether to approve loan requests from qualified applicants for loans under this subtitle;\n(2) set the terms and conditions for loans made under this subtitle; and\n(3) determine that the applicant was unable to obtain the financing necessary for the activities on affordable terms through the normal lending channels.\n(c) The maximum amount of a loan made with money from the Economic Development Administration of the United States Department of Commerce may not exceed the limit it sets by regulation.\n(d) The proceeds of a loan may be used for working capital, equipment, furnishings, fixtures, or the construction, rehabilitation, or purchase of real property for the activities that the Department approves.\n(e) The Department may authorize a flexible repayment schedule for a loan under this subtitle.","path":["Article - Economic Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec\u0026section=5-206","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:28Z","sha256":"6ac143ae58ea447bed8a849e575690dd36990b3abc30258fa1dc97569b4a10e4","source_id":"us-md","stale":false,"prev":"us-md/md.-code-economic-development-5-205","next":"us-md/md.-code-economic-development-5-207"},"notice":"GroundRules: Original legal text. Not legal advice."}