Baltimore County offers direct financing programs designed to encourage investment and job creation in the County. Private sector financing is leveraged with Baltimore County gap and flexible financing programs to help businesses expand and grow.
Additionally, the County can help you access state, federal and private financing for new and expanding businesses.
Boost Loan Fund Program (New) provides access to capital for targeted businesses which include small businesses, minority, women and veteran owned businesses in the Baltimore Metro area. The new fund is capitalized by the Maryland’s tax casino’s revenue. The new fund will provide flexible financing to assist in the acquisition of business assets, working capital, equipment, owner occupied commercial real estate, construction of new facilities and lease hold improvements. The Fund will issue loans with terms varying from three to 15 years, depending on the asset being financed. Additional request for information can be emailed to email@example.com.
Advanced Technology Loan Fund provides loans to technology based businesses and businesses acquiring technologies. Maximum loan amount is $250,000. Funds may be used to finance the acquisition and improvement of land, buildings, plant and equipment, including new construction or facility expansion.
Small Business Loan Fund provides real estate and fixed-asset loans through a partnership between Baltimore County and the area's leading financial institutions. The maximum loan amount is $1 million, or 40 percent of the project cost, whichever is less. Applicants must obtain a loan commitment in an amount equal to at least 50 percent of the project cost from a bank participating in the Small Business Loan Fund.
Business Growth Loans are direct loans or loan guarantees for new or expanding industrial or commercial businesses. Maximum loan amount is $250,000. Funds may be used to finance the acquisition and improvement of land, buildings, plant and equipment, including new construction or facility expansion.
Building Improvement Loan Program (BILP) provides up to a $30,000 interest-free loan which can be used for exterior improvements such as awnings, landscaping and signage for businesses in one of the 17 Commercial Revitalization Districts. This loan can be combined with the other economic development incentives for larger projects. Some minor interior and equipment improvements may also be financed.
Tax Exempt Bond financing is available to manufacturers and 501(c)(3) non-profit organizations. Bond proceeds may be used to finance the acquisition and improvement of land, buildings, plant and equipment, including new construction or facility expansion. Financing is available from $1 million to a maximum of $20 million. Industrial Revenue Bonds are also available for pollution control and waste treatment facility construction or related equipment purchases.
For more information contact the Loan Officer for the Department of Economic and Workforce Development at firstname.lastname@example.org or call 410-887- 8000.
Revised October 21, 2014