Section 4-223 - [Effective Until 7/1/2026] Business project(a) A project qualifies as a business project if the project is: (1) located in: (i) an area designated as a priority funding area under § 5-7B-02 of the State Finance and Procurement Article; or(ii) a qualified opportunity zone designated under § 1400Z-1 of the Internal Revenue Code in Allegany County, Baltimore City, Baltimore County, Charles County, Garrett County, Howard County, Montgomery County, Prince George's County, Somerset County, or Wicomico County; and(2)(i) acquired, owned, developed, constructed, reconstructed, rehabilitated, or improved by a person or an entity for the purposes of carrying on a business whether or not for profit; or(ii) eligible for funding from the Neighborhood Business Development Fund under § 6-310 of this article.(b) Repayment of principal and interest for a business project may be secured by: (4) certificates of deposit, stocks, and bonds;(5) credit enhancement, assurance, or guaranty; or(6) any other collateral acceptable to the Administration.(c) Financial assistance for a business project may be provided as:(2) a reduction in the principal obligation of or interest rate on a loan or portion of a loan;(3) a prepayment of interest on a subordinate or superior loan or portion of a loan;(5) a guarantee or other form of credit enhancement; or(6) a promissory note that may be converted to an equity ownership interest and liquidated at the earliest opportunity to realize the highest market value for the Administration.Amended by 2022 Md. Laws, Ch. 380, Sec. 1, eff. 7/1/2022.Amended by 2019 Md. Laws, Ch. 211, Sec. 3, eff. 7/1/2019.Added by 2016 Md. Laws, Ch. 482, Sec. 2, eff. 7/1/2016.This section is set out more than once due to postponed, multiple, or conflicting amendments.