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Maryland Economic Adjustment Fund (MEAF)

​​MEAF provides loans of up to $150,000 for small and underserved businesses with fewer than
50 employees.

Note: New applications for the program are presently being accepted.  The submission of an application is not as assurance of approval.


MEAF enables small businesses to upgrade or modernize operations, develop or expand commercial applications for technology or enter into and compete in new or different markets. Eligible businesses include manufacturers, wholesalers, retail, technology firms, service companies and skilled trades. Funds can be used for working capital, equipment, building renovation, real estate acquisition and site improvements. Funding assistance through MEAF is available to small businesses in all regions of the state.


Applicants must demonstrate credit worthiness, ability to repay the obligation, and an inability to qualify for loans from traditional lending sources. Commerce will review and process each application using standard commercial credit criteria to determine whether it meets the Program’s financial and other requirements for loan approval. Commerce will recommend approval of financing for the projects deemed to present the best chance of succeeding.


Visit this page to learn about the availability of funds. Applications must be submitted to the Maryland Department of Commerce. The following additional information will be required for the Department to evaluate your application: 

  • Business Plan, with 3 year's projections, cost budget and sources & uses of funds. 
  • Current Personal Financial Statement (request form). 
  • A listing of all owners and percentages of ownership. 
  • Resume of 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). 
  • Explain the amount of personal or business funds to be contributed to the project. 
  • Explain the type of collateral to be provided to secure the loan.


For more information about the program, eligibility details and how to obtain an application, send your inquiry to A member of the Commerce team will respond to your inquiry in a timely manner or contact:

Celester A. Hall
Program Manager, Office of Finance Programs 
Maryland Department of Commerce