# Economic Development (GEC)

## Title 5. Economic Development and Financial Assistance Programs

### Subtitle 5. Maryland Small Business Development Financing Authority

#### Section 5-511

(a) The Department may contract for and engage the services of a private Maryland corporation to administer some or all of the programs of the Authority.

(b) The Department may:

  (1) extend the termination date of a contract in effect and modify that extended contract as needed; and

  (2) renew the extended contract for up to one additional 3-year term, and modify that renewed and extended contract as needed.

(c) An extension or renewal contract shall include standards to evaluate the performance of the private contractor in rendering services under the contract.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)