Neighborhood BusinessWorks loan program provides flexible financing to new or expanding small businesses and nonprofit organizations in Sustainable Communities and Priority Funding Areas throughout the state.
Fact SheetProduct Summary and Pricing
Maryland-based small businesses (as defined by the U.S. Small Business Administration), local development corporations and nonprofit organizations whose activities contribute to a broader revitalization effort, and whose projects are intended to promote investment in commercial districts or town centers. Local governments are not eligible applicants.
Note: A Minority Business Enterprise Plan is required for those projects where Neighborhood BusinessWorks funds will exceed $250,000 for construction or rehabilitation.
Priority is given to projects that strengthen neighborhood commercial districts and are part of a greater revitalization strategy.
The following types of projects and activities will not be considered for financing:
Applicants must complete a Neighborhood BusinessWorks loan application package. Upon loan approval an applicant will receive a commitment letter from the Maryland Department of Housing and Community Development. Loan approval requires that applicants meet underwriting guidelines. Applicants must have executed the necessary legal documents prior to disbursement of the loan proceeds.
Download the Neighborhood BusinessWorks Loan Application
CONTACT: Business Lending Team