SB826: Economic Development - Maryland Watermen's Microloan Program - Establishment

Legislative Summary

Establishing the Maryland Watermen's Microloan Program in the Maryland Agricultural and Resource-Based Industry Development Corporation to provide loans to qualified commercial fishermen to continue commercial operations in the State; providing, beginning July 1, 2025, that generational watermen, beginner watermen, and seafood processing businesses are eligible to receive loans under the Program; and requiring that a loan made under the Program be at least $7,000 and not more than $15,000.