1. A. An applicant may choose to submit an application directly to:

   1. (1) One or more participating financial institutions; or
   2. (2) The Department, to be forwarded to all participating financial institutions.

2. B. For an application submitted directly to a financial institution under §A(1) of this regulation, the following procedures apply:

   1. (1) Before making a loan commitment to the applicant, the financial institution shall submit an application to the Department on forms prescribed by the Department;
   2. (2) The Department may require that the application be submitted in electronic form; and

   3. (3) After receipt of a completed application, the Department shall either:

      1. (a) Confirm that the applicant is a certified minority business enterprise or a small business and notify the applicant and the financial institution in writing that the applicant meets the program requirement that it be a certified minority business enterprise or a small business; or
      2. (b) Notify the applicant and the financial institution in writing that the application has been denied because the applicant is not a certified minority business enterprise or a small business.

3. C. For an application submitted to the Department under §A(2) of this regulation, the following procedures apply:

   1. (1) An applicant shall submit a completed application to the Department on forms prescribed by the Department;
   2. (2) An applicant may submit the application in electronic form or written form;

   3. (3) After the receipt of a completed application, the Department shall either:

      1. (a) Confirm that the applicant is a certified minority business enterprise or a small business; or
      2. (b) Notify the applicant in writing if its application has been denied because it is not a certified minority business enterprise or a small business; and

   4. (4) If the Department confirms that the applicant is a certified minority business enterprise or a small business, the Department shall provide:

      1. (a) All financial institutions eligible to participate in the Program with a copy of the completed application; and
      2. (b) The applicant with a list of all financial institutions that received a copy of the application.

Authority: State Finance and Procurement Article, §§6-211 and 6-212, Annotated Code of Maryland

Effective date: October 22, 2007 (34:21 Md. R. 1913)

Regulation .01 amended effective September 1, 2014 (41:17 Md. R. 970)

Regulation .02B amended effective September 1, 2014 (41:17 Md. R. 970)

Regulation .03A amended effective September 1, 2014 (41:17 Md. R. 970)

Regulation .04A amended effective September 1, 2014 (41:17 Md. R. 970)

Regulation .05 repealed and new Regulation .05 adopted effective November 2, 2009 (36:22 Md. R. 1722)

Regulation .05B, C amended effective September 1, 2014 (41:17 Md. R. 970)

Regulation .08 amended effective September 1, 2014 (41:17 Md. R. 970)

Regulation .08D adopted effective November 2, 2009 (36:22 Md. R. 1722)