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Maryland Industrial Development Financing Authority (MIDFA)

​​​​​​​​​​​MIDFA encourages private sector investments with insurance,  and the issuance of tax-exempt and taxable revenue bonds. Insurance reduces the lender's credit risk. All projects must be in a Priority Funding Area. While the transaction size is generally not limited, the credit enhancement is subject to the applicable program limits.

MIDFA can be used for land acquisition, building acquisition, construction costs, machinery and equipment, furniture and fixtures, leasehold improvements, certain eligible "soft costs," energy-related projects and working capital.


MIDFA facilitates capital access by issuing private activity revenue bonds and can provide credit insurance in the form of a loan guaranty to reduce lender's risk. 

Private activity revenue bonds  

  • Taxable Bond: Provides access to long-term capital markets for primarily fixed asset financing. 
  • Tax-Exempt Bond: Provides access to long term capital markets for fixed asset financing at tax-exempt rates. Eligibility is limited by Federal tax law to 501(c)(3) non-profit organizations, manufacturing facilities and certain solid waste projects.  Additional limitations apply to the specific transaction type. 

Credit insurance  

  • Conventional Program: Insures up to 80%, not to exceed $2.5 million of a transactions made by a financial institution.  Export transactions may be insured up to 90%.
  • Bond Program: Insures bonds up to 100%, not to exceed $7.5 million of taxable or tax-exempt bonds. ​


Commercial and industrial businesses in a Priority Funding Area (with the exception of retail), manufacturers, not-for-profit entities and day care providers.​


  • Deborah A. Morgan, Chairperson; 2016-2021; Executive VP - SunTrust Bank
  • Louna Primm, Co-Chairperson; 2015-2020; Chief Lending Officer ​- New Windsor State Bank
  • Richard Deemer; 2016-2021Associate Director - Cornerstone Real Estate Advisors
  • Carla Nealy; 2014-2019; SVP Chief Credit Officer - The Harbor Bank of Maryland
  • Brian Sweeney; 2013-2018; Executive Director - Maryland MEP

Note: Two current vacancy seats. 

Ex-Officio Officers
  • R. Michael Gill, Secretary; Department of Commerce
  • D. Greg Cole, Senior Director; Designee for Department of Commerce - Office of Finance Programs
  • Peter Franchot, Comptroller; State of Maryland
  • Jerome ​Klasmeier, Deputy Comptroller; Designee for Comptroller of Maryland - State of Maryland


There is NO scheduled meeting for July 28, 2016. The next scheduled meeting is to be held on August 25, 2016. Meetings are typically held the 4th Thursday of the month. To confirm date and agenda, please contact Dana McCann, Office of Finance Programs, at 410-767-6367 or​

Meeting Minutes


For more information about MIDFA contact:

D. Gregory ColeSenior Director 
Maryland Department of Commerce, Office of Finance Programs