# COMAR Title 05 — Department of Housing and Community Development

## Subtitle 13 — Neighborhood Business Development

### Chapter 05 — Linked Deposit Program

#### Regulation .06 Financial Institution Application.

*COMAR 05.13.05.06*

A. If a financial institution decides to offer the applicant a loan, it shall:

  (1) Provide the applicant and the Department with a commitment letter describing the terms and conditions of the loan, including the interest rate and fees charged by the financial institution; and

  (2) Certify to the Department on forms approved by the Department that the loan will meet the requirements of Regulation .03 of this chapter.

B. If a financial institution declines to offer the applicant a loan, it shall:

  (1) Notify the applicant and Department in writing; and

  (2) Comply with all State and federal requirements regarding the denial of a loan.