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.
Increase in Funds Coming - Expected Summer 2022
Maryland has been approved by the U.S. Treasury to administer up to $198 million in federal assistance, including subsequent performance-based funds, through the State Small Business Credit Initiative (SSBCI). The funding will be distributed through various existing business lending programs, including MSBDFA, which will receive up to $45 million. To learn about all programs receiving SSBCI funds, visit the program web page, where you can also complete an interest form to be notified of funding availability.
A private contractor manages the MSBDFA components and the Maryland Department of Commerce provides financing for the approved small businesses. Programs include:
- Contract Financing Program
- Equity Participation Program
- Long Term Guaranty Program
- State Small Business Credit Initiative
- Surety Bonding Program
MSBDFA clients include all small businesses unable to obtain adequate business financing on reasonable terms through normal financing channels.
Please continue to visit this page for the latest information about SSBCI funding availability. For general 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.