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Maryland Department of Commerce

Military Personnel and Veteran-Owned Small Business Loan Program (MPVOLP)

About this page.  This page explains MPVOLP in plain language. The program is established under Economic Development Article, Title 5, Subtitle 10 — the Military Personnel and Veteran-Owned Small Business No-Interest Loan Program — with the loan fund established at §5-1006. If anything on this page conflicts with the statute, the statute controls.

Program Status

The program operates in application rounds, not on a rolling basis.

The most recent round accepted applications from July 1, 2026 through August 14, 2026. That window has closed.

Before you apply.  Confirm the current application window with the program contact before preparing materials. Email [email protected] to ask when the next round opens and to request an application.

What This Program Does

MPVOLP provides no-interest loans to businesses owned by military reservists, veterans, and National Guard personnel, and to small businesses that employ or are owned by such persons.

Who This Is For

Eligible applicants are small businesses with fewer than 50 employees that are:

  • Veteran-owned
  • Owned by a military reservist or National Guard member called to active duty
  • Employing a military reservist or National Guard member called to active duty

Loan Terms

  • Interest rate: none — these are no-interest loans
  • Loan amount: $1,000 to $100,000
  • Term: one to eight years
  • Repayment period: usually will not exceed the useful life expectancy of the equipment being purchased
  • Collateral: required — applicants must describe the collateral offered to secure the loan

Eligible Uses

Reservists and National Guard members called to active duty

Funds must be used to pay identifiable costs of the business, including general business expenses, that result from the call to active duty.

A loan may be made at any time from the date of the call to active duty through the period ending six months after the individual’s active duty ends.

Service-disabled veterans

For service-disabled veterans, businesses owned by service-disabled veterans, and businesses employing service-disabled veterans, funds help cover the cost of making the home, motor vehicle, or place of employment of a service-disabled veteran accessible to individuals with disabilities, and defray other necessary expenses.

Documents You Will Need to Apply

Be prepared to provide:

  • A business plan with three-year projections, a cost budget, and sources and uses of funds
  • A current personal financial statement (request the form from Commerce)
  • A listing of all owners and percentages of ownership
  • A resume for the principal owner(s)
  • Personal federal tax returns with all schedules (most recent two years)
  • Business federal tax returns with all schedules (most recent two years)
  • An explanation of the personal or business funds you will contribute to the project
  • An explanation of the collateral you will provide to secure the loan

How to Apply

  1. Email [email protected] to confirm the current application window and request an application.
  2. Assemble the documents listed above.
  3. Submit the application to the Maryland Department of Commerce.
  4. The Maryland Department of Veterans & Military Families (DVMF) reviews the application to confirm the applicant meets the program’s basic eligibility rules.
  5. Once DVMF confirms eligibility, Commerce conducts a financial review and underwriting using standard commercial credit criteria.
  6. Commerce recommends approval for the projects it determines present the best chance of succeeding.

Two agencies review your application.  DVMF confirms you meet the veteran, reservist, or National Guard eligibility rules. Commerce then evaluates the financial side. Both steps must be completed before a loan is approved.

How You Receive Your Funds

Payments from the State are made by electronic funds transfer (EFT). The State requires all contractors to be registered to receive payments by EFT before any contract exceeding $200,000 is approved by the Maryland Board of Public Works, and all vendors are encouraged to register.

To register, complete and submit Form GADX-10 - PDF to the General Accounting Division:

  • Fax: 410-974-2309
  • Mail: EFT Registration, General Accounting Division, P.O. Box 746, Annapolis, MD 21404-0746

Legal Notices and Required Language

The Military Personnel and Veteran-Owned Small Business No-Interest Loan Program is established under Economic Development Article, Title 5, Subtitle 10.

Key provisions:

Applicants should consult the authorizing statute and applicable regulations for the complete legal requirements governing this program.

Contact

For program information, eligibility details, and to obtain an application:
Email: [email protected]

Celester A. Hall
Program Manager, Office of Finance Programs
Maryland Department of Commerce
Email: [email protected]
Phone: 410-767-6356