Section 5-453 - Purpose.
§ 5-453. Purpose.
(a) In general.- The purpose of the Program is to stimulate economic and employment growth in rural areas of the State with high unemployment.
(b) Assistance to eligible businesses.-
(1) The Program shall assist eligible businesses to obtain a loan at below market rates.
(2) An eligible business may use a Program loan to acquire land, buildings, and equipment.
(3) An acquisition made by an eligible business with a Program loan shall be used to create or retain employment opportunities in a rural area.
[An. Code 1957, art. 83A, § 5-927(b)(2)-(5); 2008, ch. 306, § 2.]