Sign In

Programs for Businesses

​​​​​​​​​​​​​​​​​​​​​​​We provide specialized financing and incentive resources for small businesses, veteran-owned businesses and minority and women-owned businesses, offering assistance with a variety of needs including:

  • Modernization of manufacturing equipment
  • Land acquisition and infrastructure improvements
  • Machinery and equipment purchase
  • Development of commercial opportunities
  • Financing for the economically disadvantaged

You can read more about these programs below, or give us a call today at Commerce's Office of Finance Programs and we'll help you determine your eligibility for certain programs.

Tax Cre​dits 

Tax credits provide new and existing businesses in various activities, industries and geographic locations with the opportunity to reduce costs, spur investment and create jobs through targeted tax incentives.

Direct Loans, Grants and Investments

Commerce's Primary Fund - For Businesses in Priority Areas and Industries

Maryland Economic Development Assistanc​e Authority Fund (MEDAAF)
A flexible, broad-based program providing below market, fixed rate direct assistance to growth industry sector businesses, locating or expanding in priority funding areas of the state. Funding for special purpose programs include Arts & Entertainment, Brownfields, Child Care Centers and Seafood and Aquaculture.​

Small, Socially/Economic​ally Disadvantaged, Minority, Veteran or Women Owned Businesses

Military Personnel and Veteran-Owned Small Business Loan Program

No interest loans for businesses owned by military reservists, veterans, National Guard personnel and for small businesses that employ or are owned by such persons.

Small, Minority and Women-Owned Business Account - Video Lottery Terminal Fund (VLT)
Provides 1.5% of the proceeds from video lottery terminals (slots) to be distributed in targeted areas surrounding select Maryland casinos. At least 50% of the VLT allocations will be deployed to small, minority and women-owned businesses located within certain targeted areas of the six casinos. The other 50% will be available to small, minority and women-owned businesses located throughout Maryland.​

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.

State Small Business Cr​edit Initiative (SSBCI)
A component of the federal Small Business Jobs Act of 2010 that provides direct funding for state credit enhancement programs. These funds must target an average borrower size of 500 employees or less and loans averaging $5 million.

Higher Education ​Research Initiatives

Maryland E-Nnovation In​itiative Fund (MEIF)​
Offers a state match to private funds raised in support of endowed chairs at Maryland's nonprofit institutions of higher education. Under the fund, $8.5 million will be appropriated by the Governor annually from fiscal 2016 through 2021.

Export Assistance

ExportMD Program​​
The ExportMD Program helps to offset some of the costs of marketing internationally for Maryland's small and mid-sized companies. Maryland companies that receive an ExportMD Award are eligible for up to $5,000 in reimbursement for expenses associated with an international marketing project.

Manufacturing Operations

Maryland Economic Adjustment Fund (MEAF) 
Assists business entities in the state with modernization of manufacturing operations, development of commercial applications for technology, and exploring and entering new markets.​

Partnership for Workforce Quality (PWQ)  
Provides matching training grants and support services targeted to improve the competitive position of small and mid-sized manufacturing and technology companies. Grants are used to increase the skills of existing workers for new technologies and production processes, improve employee productivity and increase employment stability.​

Job Creation and Growth Initiatives​

Economic Development Opportunities Fund (Sunny Day)
Supports extraordinary economic development opportunities that create and retain employment as well as create significant capital investments.​

ADVANCE Maryland
ADVANCE Maryland, in partnership with the National Center for Economic Gardening, is a program for second-stage entrepreneurs that uses a “grow from within” strategy targeting existing growth companies and offering them critical strategic information customized to their needs. This information can be key to propelling your company to its next phase of growth.​

Agriculture Businesses

Maryland Resource-Based Industry Financing Fund Loan (MRBIFF)
Offers low-interest loans to established Ag/RB industry firms for the purchase of land and capital equipment for production and processing activities. Monies may also be used to help finance environmental or water-quality enhancement projects.
(410) 267-6807

Maryland Vineyard Planting Loan Fund (MVPLF)
Helps meet the unique financing needs of Maryland's rural landowners wanting to plant vineyards and develop wineries.
(410) 267-6807

Rural Business Working Capital Fund Loan (RBWCL)
Offers low-interest loans to established Ag/RB-industry firms and producers for working capital and equipment purchases.
(410) 267-6807

Forestry Equipment and Working Capital Loan (FEWCL)
Offers low-interest loans to Maryland's forest products businesses with respect to working capital and equipment purchases.
(410) 267-6807

Rural Business Energy Efficiency Program
Facilitates the purchase of equipment or technology related to lowering business-related energy consumption.
(410) 267-6807

Maryland Value Added Producer Grants Program
Established to make grants available to those pursuing obtaining financial support from the U.S. Department of Agriculture's Value Added Producer Grants Program (USDA VAPG).
(410) 267-6807

U.S. Department of Agriculture (USDA) Intermediary Relending Program (IRP)
Loans are provided to local organizations (intermediaries) for the establishment of revolving loan funds.
(302) 857-3580

USDA - Rural Energy for America Program Grants (REAP Grants)
Provides grants for energy audits and renewable energy development assistance and provides funds to agricultural producers and rural small businesses to purchase and install renewable energy systems and make energy efficiency improvements.
(302) 857-3580

USDA - Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance Program
Assists in the development, construction, and retrofitting of new and emerging technologies for the development of advanced biofuels, renewable chemicals and biobased product manufacturing by providing loan guarantees for up to $250 million.
(202) 720-0410

Additional State Resources