Small Business Loan Fund for Minorities, Women and Veterans
- Any legal, for profit business that has its primary business location in Charles County, Maryland
- Qualifies as a "disadvantaged business either as a:
- Minority Owned business enterprise
- Women owned business business enterprise
- Veteran owned business enterprise
- Meets the criteria of the Small Local Business Enterprise Program
- Can demonstrate that loan proceeds will help the business to grow or will enhance the company's productivity or profitability
- Can demonstrate the ability to repay the loan
- Has not previously defaulted on an economic development load with any local, state, or federal agency.
- Has no delinquent debts with Charles County
Use of Loan Proceeds
- Working Capital
- Equipment/machinery - new or used
Size of Loan
Microenterprise loans: up to $10,000
Regular Loans: between $10,000 and $35,000
12 - 48 months, depending on loan amount and circumstances
An application fee of $50 and closing costs of $100 may apply
The Small Business Loan Fund is not intended to replace commercial bank financing. Borrowers who are able to secure bank loans are encouraged to do so. Therefore, the loan fund will take a subordinated position to bank (conventional, credit union, etc.) financing for either equipment or working capital loans.
Views from Charles
The SBDC offers training and counseling services to local businesses at all stages of growth. From the earliest stages of business planning, to preparing for business sale or exit strategy, the SBDC provides a range of resources.
Find A Property
“We are proud to be a key part of Charles County’s future and we heartily encourage other, cutting-edge companies to join us.”
Chief Executive Officer
Competitive Power Ventures
“Charles County’s strategic location in the DC Metro region affords us networking and business opportunities with some of the top names in our industry."
Director of Business Development