The terms appearing in these regulations have the meanings defined in the Act and, in addition, the meanings defined here. Terms Defined. “Act” means Economic Development Article, Title 5, Subtitle 4, inclusive, Annotated Code of Maryland, as amended. “Applicant” means a corporation, partnership, sole proprietor, joint venture, or individual applying for financial assistance under the Program. "Authority" means the Maryland Industrial Development Financing Authority. “County” means any county or Baltimore City. “Department” means the Department of Commerce, a principal department of the State. “Director” means the Executive Director or Associate Director of the Authority. “Financial institution” means any financial institution as that term is defined in Financial Institutions Article, §1-101(h), Annotated Code of Maryland, as well as any other lender approved by the Authority. “Insurance” means insurance of a loan by the Authority in accordance with the Act. “Insurance agreement” means the insurance agreement between the lender and the Authority providing for the terms of the Authority's insurance under the Program. “Lender” means a financial institution that makes a loan that is insured by the Authority under the Program. “Loan” means any type of financial obligation insured under the Program, including bonds or notes, or other instruments, certificates, or other evidences of obligation issued, offered for sale, or delivered by any person or public body for any purpose found and determined by the Authority to accomplish the purposes of the Act. “Program” means the Conventional Loan Program, as authorized by the Act. “Retail establishment” means any establishment selling goods or services to the ultimate user of those goods or services, not for the purpose of resale, but for that user's or consumer's personal rather than business use. “Secretary” means the Secretary of the Department of Commerce. “Working capital” means funds used to pay for the current operations of a business, including, without limitation, supplies, materials, labor, or equipment.