Bill > HB798

This bill, the Small Business Increased Access to Capital Act, allows the Department of Commerce to authorize an "eligible fund manager"—an entity with significant financial or investment experience designated to manage funds—to receive, use, and retain a management fee calculated as a percentage of each loan made. This management fee, which can range from 1.5% to 3% of the total loan principal, is intended to cover administrative expenses related to lending activities and is paid from the loan account. Additionally, the Department is authorized to set an annual cap on the total cumulative amount of these management fees that an eligible fund manager can receive, providing a mechanism to control costs while facilitating lending to small, minority, and women-owned businesses.

Business and Industry

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0798?ys=2026RS