Current with changes from the 2024 Legislative Session
Section 36-1401 - Definitions(a) In this subtitle the following words have the meanings indicated.(b) "Borrower" means a business that: (1) qualifies as a small business under the U.S. Small Business Administration size standards;(2) applies to a lender for business financing; and(3) has fewer than 50 employees.(c) "Department" means the Department of Commerce.(d) "Lender" means: (1) a credit union, as defined in § 1-101 of the Financial Institutions Article;(2) a financial institution, as defined in § 1-101 of the Financial Institutions Article; or(3) a community development financial institution, as defined in 12 U.S.C. § 4702(5).(e) "Program" means the Capital Access Program established under this subtitle.Added by 2023 Md. Laws, Ch. 255, Sec. 5, eff. 5/3/2023.Added by 2023 Md. Laws, Ch. 254, Sec. 5, eff. 5/3/2023.