Maryland Code, Economic Development § 5-1002

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Subject to the availability of funds, the Department, in consultation with the Department of Veterans and Military Families, shall establish a program to provide no-interest loans under this subtitle to:

(1) small business employers of military reservists and National Guard personnel who are called to active duty;

(2) businesses owned by military reservists and National Guard personnel who are called to active duty;

(3) veteran-owned small businesses; and

(4) businesses employing a service-disabled veteran.

(b) If the availability of funds is limited, in making loans under this subtitle, the Department, in consultation with the Department of Veterans and Military Families, shall give priority to the businesses described in subsection (a)(2) and (3) of this section.

(c) In making loans under this subtitle, the Department, in consultation with the Department of Veterans and Military Families, shall take into consideration how to maximize the number of veterans, military reservists, and National Guard personnel who would benefit from loans made under this subtitle.

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Cite this article: FindLaw.com - Maryland Code, Economic Development § 5-1002 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-5-1002/

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