1. A. Minimum and Maximum Amount of Financial Assistance.

   1. (1) The minimum amount of an enrolled loan for which assurance may be provided under the Program to a project is $1,000.

   2. (2) The maximum aggregate amount of enrolled loans for any one borrower, or any group of borrowers among which a common enterprise exists, is $1,000,000, unless, pursuant to a written request by a lender, the Secretary (or those authorized officers of the Department that the Secretary may designate in writing) approves a waiver of this maximum on the basis that:

      1. (a) Other potential sources of funds have been sought and clearly are unavailable;
      2. (b) It is not feasible to reduce or increase the size or scope of the project; and
      3. (c) The project serves a high public purpose.
2. B. For purposes of §A(2) of this regulation, the term “common enterprise” has the meaning stated in 12 CFR 32.

Authority: Housing and Community Development Article, §§2-102 and 4-504, and Title 6, Subtitle 3, Annotated Code of Maryland

Effective date: December 25, 2000 (27:25 Md. R. 2279)

Regulation .03B amended effective June 19, 2006 (33:12 Md. R. 996)

Regulation .11C amended effective June 19, 2006 (33:12 Md. R. 996)

Regulation .12B amended effective June 19, 2006 (33:12 Md. R. 996)

Regulation .17A amended effective June 19, 2006 (33:12 Md. R. 996)

Regulation .25 amended effective March 16, 2015 (42:5 Md. R. 485)