Sec. 05.13.07.03. Eligible Applicants

To qualify as an eligible recipient of financial assistance, an applicant shall:

A. If a nonprofit organization, corporation, or partnership, be in good standing and qualified to do business in Maryland;

B. Have the legal capacity and all necessary authorization to incur the obligations of the financial assistance;

C. Own the project or have a valid contract to purchase or lease the project;

D. Demonstrate credit worthiness and repayment ability acceptable to the Department; and

E. Demonstrate the ability to complete and operate the project.