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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) In this subtitle the following words have the meanings indicated.
(b) “Authority” means the Maryland Small Business Development Financing Authority.
(c) “Financial institution” means:
(1) a financial institution, as defined in § 1-101 of the Financial Institutions Article; and
(2) any other lender that the Authority approves.
(d)(1) “Loan document” means an instrument or agreement that evidences, secures, or guarantees a loan.
(2) “Loan document” includes a note, financing statement, mortgage, pledge, assignment, loan and security agreement, or guaranty.
(e)(1) “Working capital” means money used to meet the cash needs of an operating business entity.
(2) “Working capital” does not include money used for a capital purchase.
Cite this article: FindLaw.com - Maryland Code, Economic Development § 5-501 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-5-501/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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