Md. Code Regs. 24.05.08.05

Current through Register Vol. 51, No. 24, December 2, 2024

Section 24.05.08.05 - Eligible Uses

The purposes for which the loan is to be used include:

A. Working capital;

B. The acquisition and related installation of machinery or equipment;

C. Necessary improvements to real property leased or owned in fee simple by the applicant; or

D. The acquisition of real property to be owned in fee simple by the applicant if:

(1) The real property is to be used in the operation of the applicant's trade or business for which the loan and guarantee are sought, and

(2) A lien is placed on the real property by the financial institution.

Md. Code Regs. 24.05.08.05

Regulation .05 amended effective March 27, 1995 (22:6 Md. R. 476)