Title 36. Medical and Adult-Use Cannabis — Subtitle 14. Capital Access Program
Statutes in effect as of October 1, 2026.
Md. Code Ann., Alco. Bev. § 36-1401 (2026)
Title 36. Medical and Adult-Use Cannabis
Subtitle 14. Capital Access Program
§ 36–1401LinkCopy Citation
(a)
In this subtitle the following words have the meanings indicated.
(b)
“Borrower” means a business that:
(1)
qualifies as a small business under the U.S. Small Business Administration size standards;
(2)
applies to a lender for business financing; and
(3)
has fewer than 50 employees.
(c)
“Department” means the Department of Commerce.
(d)
“Lender” means:
(1)
a credit union, as defined in § 1–101 of the Financial Institutions Article;
(2)
a financial institution, as defined in § 1–101 of the Financial Institutions Article; or
(3)
a community development financial institution, as defined in 12 U.S.C. § 4702(5).
(e)
“Program” means the Capital Access Program established under this subtitle.
Md. Code Ann., Alco. Bev. § 36-1402 (2026)
Title 36. Medical and Adult-Use Cannabis
Subtitle 14. Capital Access Program
§ 36–1402LinkCopy Citation
There is a Capital Access Program in the Department of Commerce.
Md. Code Ann., Alco. Bev. § 36-1403 (2026)
Title 36. Medical and Adult-Use Cannabis
Subtitle 14. Capital Access Program
§ 36–1403LinkCopy Citation
The purpose of the Program is to stimulate opportunities for social equity licensees that have difficulty obtaining financing and to establish a loan loss reserve account.
Md. Code Ann., Alco. Bev. § 36-1404 (2026)
Title 36. Medical and Adult-Use Cannabis
Subtitle 14. Capital Access Program
§ 36–1404LinkCopy Citation
(a)
A loan to a social equity licensee qualifies under the Program if the loan:
(1)
satisfies the lending criteria of the lender; and
(2)
does not exceed:
(i)
for a dispensary, $500,000; or
(ii)
for a grower or processor, $1,000,000.
(b)
A loan that qualifies under subsection (a) of this section may be short or long term, have fixed or variable rates, and be secured or unsecured.
Md. Code Ann., Alco. Bev. § 36-1405 (2026)
Title 36. Medical and Adult-Use Cannabis
Subtitle 14. Capital Access Program
§ 36–1405LinkCopy Citation
(a)
To participate in the Program, a lender shall enroll the qualifying loan in the Program not more than 30 days after the date of the first disbursement of the loan.
(b)
A lender may enroll all or a portion of a qualifying loan in an amount of not more than:
(1)
for a dispensary, $500,000; or
(2)
for a grower or processor, $1,000,000.
Md. Code Ann., Alco. Bev. § 36-1406 (2026)
Title 36. Medical and Adult-Use Cannabis
Subtitle 14. Capital Access Program
§ 36–1406LinkCopy Citation
(a)
The Department shall establish a loan loss reserve account for a lender when the lender enrolls its first loan under the Program.
(b)
At the time of enrollment:
(1)
the borrower shall make a payment to the account of between 0% and 7% of the enrolled loan amount;
(2)
the lender shall make a payment to the account of at least 2% of the enrolled amount; and
(3)
the Administration shall make a matching payment to the account in an amount equal to the borrower and lender’s aggregate payment under items (1) and (2) of this subsection.
(c)
The loan loss reserve account of a lender shall be available for the lender to withdraw if a borrower defaults on a qualifying loan.
(d)
The Department shall collaborate with the Office of Social Equity established under § 9–4108 of the State Government Article to identify and assist businesses with obtaining financing from the Program.
(e)
The Department shall establish procedures for a lender to withdraw from the Program.