§ 6-308. Business Development Program - Administration.
(a) In general.- The Department shall:
(1) administer the Business Development Program;
(2) adopt regulations to carry out the Business Development Program;
(3) establish, for each category of financing described in § 6-306(c) of this subtitle, minimum percentages or amounts of private and nonstate public financing that an applicant for the Business Development Program must secure; and
(4) make a reasonable, good faith effort to make 25% of the Business Development Program loans and grants to microenterprises.
(b) Disposition of Program loans and revenues.- The Department may:
(1) sell, assign, or otherwise dispose of a Program loan or revenue from a loan on terms and conditions acceptable to the Department, including selling loans at a discount, if the maximum sale proceeds in any fiscal year do not exceed $4,000,000; and
(2) apply the proceeds received from a sale, assignment, or other disposition under item (1) of this subsection to the Fund.
§ 6-308. Business Development Program - Administration.
(a) In general.- The Department shall:
(1) administer the Business Development Program;
(2) adopt regulations to carry out the Business Development Program;
(3) establish, for each category of financing described in § 6-306(c) of this subtitle, minimum percentages or amounts of private and nonstate public financing that an applicant for the Business Development Program must secure; and
(4) make a reasonable, good faith effort to make 25% of the Business Development Program loans and grants to microenterprises.
(b) Disposition of Program loans and revenues.- The Department may:
(1) sell, assign, or otherwise dispose of a Program loan or revenue from a loan on terms and conditions acceptable to the Department, including selling loans at a discount, if the maximum sale proceeds in any fiscal year do not exceed $4,000,000; and
(2) apply the proceeds received from a sale, assignment, or other disposition under item (1) of this subsection to the Fund.
§ 6-308. Business Development Program - Administration.
(a) In general.- The Department shall:
(1) administer the Business Development Program;
(2) adopt regulations to carry out the Business Development Program;
(3) establish, for each category of financing described in § 6-306(c) of this subtitle, minimum percentages or amounts of private and nonstate public financing that an applicant for the Business Development Program must secure; and
(4) make a reasonable, good faith effort to make 25% of the Business Development Program loans and grants to microenterprises.
(b) Disposition of Program loans and revenues.- The Department may:
(1) sell, assign, or otherwise dispose of a Program loan or revenue from a loan on terms and conditions acceptable to the Department, including selling loans at a discount, if the maximum sale proceeds in any fiscal year do not exceed $4,000,000; and
(2) apply the proceeds received from a sale, assignment, or other disposition under item (1) of this subsection to the Fund.
