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Department of Economic Development
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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 $30,000. It may be used for exterior and interior improvements such as but not limited to:

  • awnings
  • drywall
  • electrical
  • flooring
  • HVAC systems
  • landscaping
  • painting
  • parking areas
  • plumbing
  • siding
  • signs
  • store fixtures

Loans are interest-free for projects over $15,000. Loans for projects under $15,000 will have an interest rate of three 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 and Interior Improvements

  • Interest rate is zero percent for projects with a total cost in excess of $15,000. Projects that are less than $15,000 will have a three percent interest rate.
  • Maximum loan will not exceed 90 percent of project cost, with a maximum loan amount of $30,000. 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 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.

Contact

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

Revised October 27, 2011

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