Eastern Shore Entrepreneurship Center, Revolving Loan Fund Portfolio

A critical part of helping to expand entrepreneurship and small business on Maryland’s Eastern Shore is access to capital. Many individuals looking to start or expand a business can find themselves challenged in obtaining traditional financing, such as through banks. For this reason, ESEC administers and manages a portfolio of Revolving Loan Funds (RLF) that helps supply small businesses and entrepreneurs with the nontraditional kind of financing needed to start or expand their business.

http://ventureahead.org/revolving-loan-fund-portfolio/

Neighborhood BusinessWorks

Neighborhood BusinessWorks loan program provides flexible financing to new or expanding small businesses and nonprofit organizations in Sustainable Communities and Priority Funding Areas throughout the state.

Maryland-based small businesses (as defined by the U.S. Small Business Administration), local development corporations and nonprofit organizations whose activities contribute to a broader revitalization effort, and whose projects are intended to promote investment in commercial districts or town centers are eligible applicants. Local governments are not eligible applicants.

https://dhcd.maryland.gov/Business/Pages/NBW.aspx

Small Business Administration Loans

Start or expand your business with loans guaranteed by the Small Business Administration. Use Lender Match to find lenders that offer loans for your business.  Loans guaranteed by the SBA range from small to large and can be used for most business purposes, including long-term fixed assets and operating capital. Some loan programs set restrictions on how you can use the funds, so check with an SBA-approved lender when requesting a loan. Your lender can match you with the right loan for your business needs.

https://www.sba.gov/funding-programs/loans

MARBIDCO Loan Programs

MARBIDCO’s loan programs are designed to meet key agricultural, forestry, or seafood business financing needs. Loans can be used for land purchases, facilities construction or renovation, equipment acquisition or working capital and often leverage commercial lender funds.

MARBIDCO loans range from $10,000 to $650,000 and, with some exceptions, must be fully collateralized. In addition to our core loan programs, MARBIDCO offers several specialty programs that are funded by partnering organizations for targeted purposes, such as the Maryland Shellfish Aquaculture Financing Fund Program and the Rural Business Energy Efficiency Improvement Loan Fund.

http://www.marbidco.org/_pages/programs_loans/loan_programs.htm

Upper Shore Region Agricultural Equity Incentive Matching Fund

Small, Minority and Women-Owned Business Account - Video Lottery Terminal Fund (VLT)

Created with the small business owner in mind, the state’s Video Lottery Terminal (VLT) fund uses proceeds from video lottery terminals (slots) to assist small, minority, and women owned businesses located in targeted areas surrounding six Maryland casinos: Maryland Live in Anne Arundel County, Hollywood Casino Perryville in Cecil County, Rocky Gap in Allegany County, Ocean Downs in Worcester County, Horseshoe Casino in Baltimore City and National Harbor in Prince George's County. 

Learn more at http://commerce.maryland.gov/fund/programs-for-businesses/vlt

Kent County Revolving Loan Fund

In 2015, Kent County reactivated the Revolving Loan Fund and partnered with ESEC to manage the fund.  In collaboration with the Kent County Economic Development Office, ESEC facilitates loan applications from businesses and entrepreneurs in Kent County and makes recommendations about loan approval.  All final decisions of loan applications are made by the County Commissioners of Kent County.

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Greater Chestertown Initiative - Loan Fund

The Greater Chestertown Initiative (GCI) facilitates the Open for Business in Chestertown program. Open for Business is designed to provide “kickstarter” funding for new or expanding businesses with the goal of filling empty storefronts in the downtown. Open for Business invites entrepreneurs to submit requests for funding and through a juried process select those deemed most promising. Awards will be made in the form of matching funds and virtually interest free loans.