Maryland § 5-1205

§ 5-1205.

    (a)    The Department shall designate at least one private nonprofit entity to receive grants from the Maryland Nonprofit Development Center Program Fund to implement the Program.

    (b)    In selecting a designee, the Department shall consider and give priority to organizations that:

        (1)    have experience in providing the scope of assistance and services required under § 5–1203 of this subtitle to qualifying nonprofit entities in the State;

        (2)    demonstrate the capacity to provide the assistance and services required under § 5–1203 of this subtitle on a statewide basis; and

        (3)    demonstrate current expenditures that:

            (i)    are equal to at least three times the amount of funding received under this section; and

            (ii)    have been received from other sources for the provision of assistance and services of the type required under § 5–1203 of this subtitle to nonprofit entities in the State.

    (c)    (1)    The Department may provide a no–interest bridge loan for operating expenses of up to $25,000 to a nonprofit entity that has received written confirmation of funding from a government grant or contract but has not yet received the funding.

        (2)    The Department shall establish an application process for bridge loans provided under this subsection.

        (3)    Before providing a bridge loan under this subsection, the Department shall receive written confirmation that the nonprofit entity has been awarded a government grant or contract but has not yet received the funding.

        (4)    The Department shall establish a schedule for repayment for a bridge loan that:

            (i)    is reasonable based on the nature and payment schedule of the government grant or contract to the nonprofit entity; and

            (ii)    assures repayment of the bridge loan is completed no later than the date of the final grant or contract payment to the nonprofit entity.