Md. Code Regs. 05.03.08.03 - Eligible Borrowers
To qualify as an eligible borrower under the program, an applicant shall:
A. If a nonprofit organization, corporation, or partnership, be in good standing and qualified to do business in Maryland;
B. Have the legal capacity and all necessary authorization to incur the obligations of the loan;
C. Own the project or have a valid sales contract to purchase the project;
D. Demonstrate credit worthiness and repayment ability acceptable to the Department; and
E. Demonstrate the ability to complete the project.
Notes
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