Financial Assistance
Building Investment Loans

The Building Investment Loan Program is designed to improve the appearance of business properties located in the Commercial Revitalization Districts. Qualified business and property owners may apply for a maximum loan of $60,000. It may be used for exterior and interior improvements such as but not limited to:

Loans are interest-free for projects over $15,000.   Loans for projects under $15,000 will have an interest rate of 3 percent. Loans may be repaid over a period of up to five-years.  Download form  Before completing forms, please contact the Department's Chief Financial Officer. 

Qualifications

• Buildings must be located in designated Baltimore County commercial revitalization districts.
• Eligible exterior improvements include exterior building renovations such as windows, facade replacement, siding, and painting. Eligible site improvements include landscaping, signage, lighting, and parking lot improvements.
• Eligible interior improvements include painting, flooring, drywall, plumbing, electrical, HVAC systems, and store fixtures.

Loan Parameters 

Exterior Improvements

• Interest rate is 0 percent for projects with a total cost in excess of $15,000. Projects that are less than $15,000 will have a 3 percent  interest rate.
• Maximum loan will not exceed 90 percent of project cost, with a maximum loan amount of $40,000. The term of the loan is 60 months.
• Baltimore County will charge the borrower's designated checking account for monthly payments on the first of each month.
• A non-refundable loan application fee of $150.00 is due and payable at the time of application.
• Applicants are required to submit a copy of the last two year-end financial statements and tax returns on the business.
• A current personal financial statement along with a copy of the most recent personal tax return must be submitted with the application.
• Complete project description and at least one cost estimate from an independent contractor must be submitted with the loan application.
• Following the execution of the documents, Baltimore County will distribute 25 percent of the loan amount to the borrower. Upon successful completion of the specified improvements, the balance of the funds will be distributed to the borrower. Each borrower will be required to submit copies of invoices due and copies of cancelled checks for invoices that have been paid by the borrower.

Interior Improvements

• Maximum loan for interior improvements will not exceed 90 percent of project cost with a maximum loan of $20,000. Terms and interest rate are the same as the loan for the exterior loan. In order to apply for an interior improvement loan, exterior improvements must be made to the property. Exterior improvements that have been made within one year from the date of application are eligible.
• Applicants for an interior loan must own the property or have an executed long term lease with the property owner. The term of the County’s loan will not exceed the term of the lease.
• Applicants for an interior improvement loan who lease the property must have a minimum of two years' experience in the business.
• Applicants under the interior loan program must submit the same financial and project information as required under the exterior loan program.

Contact us about Baltimore County
financing programs at
          businesshelp@baltimorecountymd.gov
Or call 410-887- 8000

Baltimore County
Department of Economic Development 
400 Washington Avenue Towson Maryland 21204
Phone 410-887-8000

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