Direct Loans
Maryland Economic Development Assistance Authority & Fund (MEDAAF)
MEDAAF provides targeted financial assistance to select projects located within a priority funding areas and in the defined eligible industry sectors.
(410) 767-2369
Community Development Block Grant Program-Economic Development (CDBGP-ED)
CDBGP-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.
(410) 767-6356
Maryland Economic Adjustment Fund (MEAF)
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.
(410) 767-6356
Maryland Small Business Development Financing Authority (MSBDFA)
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.
(410) 333-4270
TEDCO – Working Capital Loan Fund (WCLF)
The WCLF provides loans to early stage technology-oriented companies located in the state of Maryland. Loans of between $15,000 and $50,000 are available to be used for working capital in order to assist a company with expansion, market entry, or other initiatives.
(410) 740-9442
(800) 305-5556U.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.
(410) 962-6195The following Certified Development Companies administer the 504 program in Maryland:
Chesapeake Business Finance Corp.
(301) 668-1844 or (800) 453-0262
Mid-Atlantic Business Finance Company
(410) 863-1600 or (800) 730-0017
Prince George’s Financial Services Corp (FSC First)
(301) 883-6900Department of Housing and Community Development (DHCD) – Neighborhood Revitalization Program (NR)
The Division of Neighborhood Revitalization (NR) within the Maryland Department of Housing and Community Development 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.
(410) 514-7288
DHCD – Community Legacy Program
Community Legacy, a program of the Department of Housing and Community Development (DHCD), is 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.
(410) 209-5800
DHCD – Main Street Maryland Program
Main Street Maryland is a comprehensive downtown revitalization program created in 1998 by the Maryland Department of Housing and Community Development.
(410) 209-5813
Department of Housing and Community Development (DHCD) – The Maryland Linked Deposit Program
For certified Minority Business Enterprises (MBEs), the 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).
(410) 514-7245
DHCD - Neighborhood BusinessWorks Program
The 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.
(410) 209-5808