Md. Code Regs. 05.13.04.17

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.13.04.17 - Limitations on Financial Assistance

A. Minimum and Maximum Amount of Financial Assistance.

(1) The minimum amount of an enrolled loan for which assurance may be provided under the Program to a project is $1,000.

(2) The maximum aggregate amount of enrolled loans for any one borrower, or any group of borrowers among which a common enterprise exists, is $1,000,000, unless, pursuant to a written request by a lender, the Secretary (or those authorized officers of the Department that the Secretary may designate in writing) approves a waiver of this maximum on the basis that:

(a) Other potential sources of funds have been sought and clearly are unavailable;

(b) It is not feasible to reduce or increase the size or scope of the project; and

(c) The project serves a high public purpose.

B. For purposes of §A(2) of this regulation, the term "common enterprise" has the meaning stated in 12 CFR 32.

Md. Code Regs. 05.13.04.17

Regulation .17A amended effective June 19, 2006 (33:12 Md. R. 996)