Other Financing Programs

Capital Access Program

A credit enhancement program, Capital Access helps small businesses gain better access to private financing. Private lenders establish a loss reserve fund from fees paid by lenders, borrowers and the Maryland Department of Housing and Community Development (DHCD) to insure loans made to small businesses. Enrolled amounts may range from $10,000 to $1,000,000.

For more information, contact DHCD:

For more information visit http://www.dhcd.state.md.us

Neighborhood Business Development Program

The Neighborhood Business Development Program, operated by the Department of Housing and Community Development (DHCD), provides flexible gap financing through loans to small businesses starting or expanding in locally designated revitalization areas throughout the state. Loans ranging from $25,000 to $500,000 are provided to small businesses at below market interest rates. Loans and grants are made to non-profit organizations whose activities contribute to a broader revitalization effort.

Each project is assessed for financial need, up to 50 percent of total project costs. The target loan term is five to 10 years, depending on use and loan size. There is a minimum 5 percent applicant capital cash contribution, based on total new project cost. Personal guarantees and collateral are required. There are no application fees and no prepayment penalties.

For more information, contact DCHD:

For more information visit http://www.dhcd.state.md.us

The Maryland Telework Loan Program ,

The Maryland Telework Loan Program, operated by the Maryland Technology Assistance Program, a program of the Maryland Department of Disabilities, is established to help Maryland residents with disabilities qualify for lower-interest loans to buy equipment, such as computers or fax machines, to be able to work from home or start substantially home-based businesses. By increasing opportunities to telework and self-employment, current barriers to employment such as inadequate transportation, fatigue, inaccessible work environments, and the need for personal assistance are reduced or eliminated. Any Maryland resident with a disability applying for this loan will need to have an approved business plan and must plan on performing a substantial portion of the telework from home or an approved telework location.

For more information on this program or if you would like to apply, contact the Maryland Technology Assistance Program at 1-800-832-4827(Voice), 1-866-881-7488 (TTY), by e-mail or visit their Web site.