KENT COUNTY, MARYLAND
COUNTY COMMISSIONERS

Loan Advisory Review Committee

Stuart "Mickey" Elsberg, Chair of Economic Development Advisory Board
Darlene R. Wilson, At-Large Member
Susanne Hayman, County Administrator
Pat Merritt, Chief Finance Officer
Raymond Tarrach, President of Chestertown Bank of MD, representing the financial community

Jack Steinmetz, Director of Economic Development

Kent County, Maryland Revolving Loan Fund (RLF) Program

Loan Advisory Review Committee

To aid in the administration of the County's Revolving Loan Fund Program, the Commissioners created a "Loan Advisory Review Committee (LARC)", which will review applications for County RLF Program Loans and will make recommendations to the Commissioners with respect to the approval or denial of such loan applications. The LARC shall consist of the following membership"

• A member of the County's Economic Development Board, who shall be nominated by the remaining members of the Economic Development Board;

• The Treasurer of Kent County;

• The County Administrator, who shall be appointed by the Board;

• A representative from Kent County's "financial community", who shall be appointed by the Board; and

• An At-Large member, who shall be appointed by the Board.

The LARC shall create whatever procedures, guidelines, rules, application forms, and the like to assist it in its recommendation-making process, such as the development of criterion to be met prior to the LARC's consideration of a Loan Application. The Board shall review and approve any such procedures, guidelines, rules, forms, criterion, et cetera, to be utilized by the LARC in its decision-making processes before some are placed into effect by the LARC and/or the Economic Development Office Director.

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