Whether you’re seeking funds to start up, expand, or fund sustainable upgrades, our Economic Development Department can connect you with essential capital. We determine the most appropriate financing for your aspirations and industries. Options include:
Business Development Loan Fund for Women, Minorities, and Veterans
This fund offers micro-loans up to $35,000 to small, disadvantaged (minority, women, or veteran-owned) businesses. Eligible companies must demonstrate viability. View our brochure. Download an application here.
Targeted Industry Loan Fund
This fund offers loans to eligible companies relocating or expanding businesses within target industries. Intended as gap financing, it provides up to $100,000 and offers a 15 year repayment below prime rate. View our brochure. Download an application here.
Maryland Commercial PACE (Property Assessed Clean Energy) Loans
PACE financing provides 100% up-front capital to commercial property owners to implement upgrades that save energy and lower operating costs. Improvements are repaid through a long-term surcharge on the property tax bill that transfers with sale of the property. Explore your eligibility.
Private Activity Bonds (Tax Exempt or Taxable)
These bonds are issued by a state government—the proceeds of which are used for a defined, qualified purpose by an entity other than the government issuing the bonds. More info.
Tax Increment Financing (TIF)
If your business is located in a TIF district, the County may issue bonds to pay for
infrastructure for a new or expanding development in the designated area(s). The debt is repaid by the additional increment of taxes generated by the new project and
increased assessments in the TIF District. Almost all infrastructure within the designated area(s) is eligible for support.
$335,000 in economic development loans are at work in our community.