Maryland Economic Development Assistance Authority and Fund (MEDAAF)
Provides targeted financial assistance to select projects located within a priority funding areas and in the defined eligible industry sectors.
Community Development Block Grant Program – Economic Development (CDBG-ED)
Provides funding to commercial and industrial economic development projects. Projects must create employment for individuals from low to moderate income in non-urban areas of the state, or eliminate slum and blight conditions.
Maryland Economic Adjustment Fund (MEAF)
Assists small business entities in the state with modernization of manufacturing operations, the development of commercial applications for technology, and exploring and entering new markets.
Maryland Small Business Development Financing Authority (MSBDFA)
Provides financing for small businesses that are not able to qualify for financing from private lending institutions or owned by socially and economically disadvantaged persons.
U.S. Small Business Administration CDC/504 Program (Maryland)
The CDC/504 loan program is a long-term financing tool for economic development within a community. The 504 Program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings.
The following Certified Development Companies administer the 504 program in Maryland:Mid-Atlantic Business Finance Company
(410) 863-1600 or (800) 730-0017
Prince George’s Financial Services Corp (FSC First)
Video Lottery Terminal (VLT) Fund - Small, Minority and Women-Owned Small Business Loan
Provides for 1.5% from the proceeds of video lottery terminals to be distributed in targeted areas surrounding the video lottery facilities. Eligible Fund Managers have been selected to oversee the distribution of $7.86 million in video lottery terminal funds. At least 50% of their allocations will be deployed to small, minority, and women-owned businesses located within a 10-mile radius of three Maryland casinos: Maryland Live in Anne Arundel County, Hollywood Park in Cecil County, and Ocean Downs in Worcester County. The other 50% will be available to small, minority, and women-owned businesses located throughout Maryland. Learn more.
Department of Housing and Community Development (DHCD) – Neighborhood Revitalization Program
Is committed to empowering communities through its 12 programs for loans, grants, technical assistance & tax credits. Assistance through the Division of Neighborhood Revitalization is designed to serve as a tool for communities, business & organizations to leverage additional funding from investors, foundations & local governments.
DHCD – Community Legacy Program
Designed to assist urban neighborhoods, suburban communities and small towns that are experiencing decline and disinvestment, but have the potential, with modest public and private investment, to be vibrant places to live and work.
DHCD – Main Street Maryland Program
A comprehensive downtown revitalization program created in 1998 by the Maryland Department of Housing and Community Development.
DHCD – Maryland Linked Deposit Program
Reduces the interest rate on loans they obtain from participating banks. Certified MBEs that notify the Maryland DHCD prior to obtaining qualifying loans from enrolled financial institutions may be able to receive a 2% discount on their loan(s).
DHCD - Neighborhood BusinessWorks Program
Provides flexible gap financing in the form of below-market interest rate loans to small businesses and nonprofit organizations locating or expanding in locally designated neighborhood revitalization areas.