MSBDFA promotes the viability and expansion of businesses owned by economically and socially disadvantaged entrepreneurs.
MSBDFA uses include working capital, supplies and materials, machinery and equipment acquisition, land acquisition or real estate improvements. Other uses include the purchase of an existing franchise, construction or renovation and franchise fees or obtaining bid, performance and payment bonds for contracts, which receive the majority of their funding from federal, state or local government.
A private contractor manages the four MSBDFA components and the Maryland Department of Commerce provides financing for the approved small businesses:
- Contract Financing Program
- Equity Participation Program
- Long Term Guaranty Program
- Surety Bonding Program
MSBDFA clients include all small businesses unable to obtain adequate business financing on reasonable terms through normal financing channels.
For more information about MSBDFA contact:
Randy Croxton, Chief Investment Officer
Meridian Management Group, Inc.
Small Business Development Financing Authority page to see information about MSBDFA meetings.