Financing Assistance | Financing for Technology | Retail/Commercial Revitalization | Contacts
Financing for Technology
Advanced Technology Loan Fund — Baltimore County
Advanced Technology Loan Fund Direct loans, with the participation of other lending and equity sources, for small technology and/or defense related businesses. Maximum loan amount is the lesser of $250,000 or 50 percent of the project's eligible costs. Funds may be used to finance the acquisition and improvement of land, buildings, plant and equipment - includes new construction or facility expansion.
State of Maryland Technology Financing Programs
The Maryland Department of Business and Economic Development runs several programs with the purpose of providing emerging, high technology businesses access to early-stage capital. Investment decisions are based on the project's potential return, the promotion of economic development and the creation of jobs.
Challenge Investment Program — State of Maryland
This program provides financing for small start-up companies to cover a portion of the initial costs associated with bringing new products to market.
- To qualify, a business must have no more than 25 employees and annual sales of less than $1 million.
- A minimum 1:1 co-investor match is required.
- Applicants are limited to high tech companies whose principal places of business are located in Maryland.
- The amount of equity is up to $150,000 with an initial investment of up to $50,000. Additional investments are made based on performance and the achievement of specific milestones.
Enterprise Investment Program — State of Maryland
This program makes direct equity investments in emerging high technology companies with patented or proprietary products or manufacturing processes and a marketing strategy in place. Whereas the Challenge Investment Program works with emerging companies, the Enterprise Investment Program works with established companies to move them into their next stage of development as a viable business. The amount of investment ranges from $150,000 to $500,000.
- Applicants must be in a high-tech industry targeted for assistance.
- The applicant must agree to maintain its principal place of business in Maryland for five years.
- A minimum of 3:1 co-investor match is required.
Maryland Enterprise Venture Capital Limited Partnership
Provides investment in private venture capital limited partnerships with the understanding that each partnership will make its best efforts to invest in Maryland start-ups.
TEDCO - Maryland Technology Development Corporation
TEDCO's mission is to facilitate the creation of businesses and foster their growth in all regions of the State through the commercialization of technology.
- Brings innovations from universities and federal labs into the State's economy by facilitating the transfer of technology to the private sector;
- Provides emerging technology companies and university researchers with vital seed funding and specialized technical assistance.
Baltimore County Department of Economic and Workforce Development
The Jefferson Building
105 West Chesapeake Avenue, Suite 300
Towson Maryland 21204
Maryland Department of Business and Economic Development
217 East Redwood Street
Baltimore, Maryland 21202
Toll free: 1-888-ChooseMD
Maryland Technology Development Corporation (TEDCO)
5575 Sterrett Place, Suite 240
Columbia, Maryland 21044
Toll free: 1-800-305-5556
Revised March 25, 2014