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Md. Code Ann., Econ. Dev. § 5-455

Known as the Maryland Industrial Development Financing Authority Act

The act spans §§ 5-401 to 5-466 (53 sections).

(a) To obtain fixed asset financing under this part, an eligible business shall apply to a lender for fixed asset financing.

(b) Fixed asset financing under this part may not exceed $500,000 for an eligible business.

(c) In addition to the information that the lender requires in its standard loan application, the applicant shall provide to the lender, in a form that the Authority prescribes:

(1) a certification, with supporting documentation, that the applicant is an eligible business; and

(2) a description of the number and kinds of jobs to be created or retained as a result of providing the linked deposit.

Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.