Overview
The Department of Housing and Community Development (DHCD)'s Division of Business Development supports small businesses by offering:
- Loans through the DHCD Business Lending Program;
- Grants through the NourishMD Grant Program;
- Investment incentives through the Opportunity Zone program; and
- Individual business consultations to identify small business assistance resources offered by DHCD, other state agencies, and partners at local governments and in the private sector.
Initial consultation request
Interested in financing opportunities? Complete the initial consultation form to request a 1:1 consultation with a DHCD business development officer. In this conversation, a team member will review your business's needs and available financing offered by DHCD, other state agencies, and other partners.
DHCD funding supports the Baltimore Museum of Industry's future
DHCD and the Baltimore Museum of Industry celebrate $1.9 million in DHCD funding to support the institution. The museum serves as a living monument to the Marylanders who built the foundation for our city and state. Learn more about the Business Lending program.
Small Business Lending
Small businesses are Maryland’s economic engines that create jobs and bring our communities to life. The State’s premier suite of small business loan programs provides competitively priced, flexible financing for the costs associated with business startup and expansion.
These programs offer direct, fixed-rate loans of up to $2 million and companion loans of up to $5 million. $2 million direct loans are offered on a competitive basis with rounds announced quarterly. $5 million companion loans are available year-round, subject to availability of funds. All small business loans have fixed interest rates of 4% with terms of up to 30 years.
Eligible borrowers include Maryland-based small businesses (fewer than 500 employees), local development corporations, and nonprofits. Local governments are not eligible applicants.
Business Development Programs
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Small Business Direct Loans
Competitively awarded loans of up to $2 million with 4% fixed interest rates and terms of up to 30 years.
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Small Business Companion Loans
Loans of up to $5 million with 4% fixed interest rates and terms of up to 30 years. Requires a minimum 1:1 private lending match.
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Own Your Future Loans
Loans of up to $5 million with 4% fixed rates to buy, build, expand or renovate your commercial property.
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NourishMD
NourishMD expands access to healthy and fresh foods in Maryland Communities experiencing food insecurity by providing direct grants to eligible retailers.
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Maryland Opportunity Zones
The Opportunity Zone program is a federal tax-incentive that encourages investments in low-income communities by enhancing returns.
Become a Lending Partner
Maryland DHCD partners with lenders to expand access to capital to small businesses and nonprofits in the state. We offer flexible lending solutions to benefit you and your clients.