3 Funding Sources for Small Businesses

East Street, along with much of Downtown Frederick, East Frederick, and the Golden Mile, are designated sustainable communities.  This designation opens up benefits, such as eligibility for the Neighborhood BusinessWorks Loan Program.

What business couldn't use a little extra funding? Here are 3 loan programs that can help you fund your small business. Find a program that works best for you. 

1. Neighborhood BusinessWorks Loan Program

• Offered by Maryland Department of Housing and Community Development (DHCD)
• First floor business or retail space use that generates street level activity in mixed use projects 
• Loans from $10k-$500k
• NBW financing can represent up to 50% of the total project cost
• A minimum of 5% of total project costs must be contributed by the applicant
• Primary Lender is required - the NBW program subordinates to the primary lender
•  For more information, contact Michael Haloskey at 410-514-7237

2. Military Personnel and Veteran-Owned Small Business Loan Program (MPVSBLP)

• Offered by the State of Maryland, Dept of Business & Economic Development (DBED)
• No interest loans from $1k - $50k
•  Businesses owned by military reservists, National Guard members called to active duty, small businesses with fewer than 50 employees
• Options available for businesses owned by service-disabled veterans and businesses that employ service-disabled veterans
• For more information, contact Jerry Boden, Maryland Dept of Veteran Affairs at 410-260-3841

3. Small, Minority and Women-Owned Business Account - Video Lottery Terminal Fund (VLT) 

• Offered by the State of Maryland, Dept of Business & Economic Development (DBED)
• 50% of VLT allocations will be deployed to small, minority & women-owned businesses located within a 10-mile radius of casinos. The other 50% will be available to the same type of businesses located anywhere within the State
• For more information, contact any of the fund managers listed here. 

businesses owned by service-disabled veterans

businesses owned by military reservists and National Guard members called to active duty, - See more at: http://business.maryland.gov/fund/programs-for-businesses/mpvsblp#sthash.LGRusVRI.dpuf

businesses owned by military reservists and National Guard members called to active duty, - See more at: http://business.maryland.gov/fund/programs-for-businesses/mpvsblp#sthash.LGRusVRI.dpuf

businesses owned by military reservists and National Guard members called to active duty, - See more at: http://business.maryland.gov/fund/programs-for-businesses/mpvsblp#sthash.