SSBCI Participating Programs

​​​Maryland's State Small Business Credit Initiative consists of nine programs that support a small business during its entire lifecycle, from startup to maturity. The programs fall under two categories, loans or equity. They are designed to help small businesses seeking loans for expansion (working capital loans, contract financing, business owner occupied real estate acquisition, etc.); businesses seeking equity investments for expansion and growth; and CDFI’s seeking capital to re-lend to small businesses.​ The state of Maryland expects to open applications in the summer of 2022, check back for updates.​

SSBCI Loan Programs

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Neighborhood BusinessWorks Loan Participation Program

Designed to assist businesses with working capital and owner-occupied real estate acquisition.

Eligibility:

  • ​Less than 500 employees
  • ​Minimum 1:1 private capital match

Terms:

  • ​Senior or Junior Debt
  • Loan Size: $500,000 to $5,000,000

Neighborhood BusinessWorks - Loan to Lender - (“CDFI Loan”)

Designed for CDFIs to re-lend to small businesses (loan of less than $250,000). The loan focuses on SEDI businesses and CDFI Investment Areas.

Eligibility:

  • CDFIs only
  • Minimum 1:1 private capital match
  • Lender must have 20% at risk
  • Priority: SEDI businesses, CDFI Investment Areas, and very small business (<10 employees)

Terms:

  • Loan Size based on capacity ($2,000,0000 - $15,000,000)
  • Applications processed on a first come / first served basis

Neighborhood BusinessWorks Venture Loans

Designed to assist strategic businesses with high potential job growth.

Eligibility:

  • Less than 500 employees
  • Minimum 1:1 private capital match
  • Lender/Investor must have 20% at risk

Terms:

  • Venture Debt rates with repayment in principal and interest or equity
  • Loan Size: $500,000 to $5,000,000
  • Aggregate loan < $20,000,000

Maryland Small Business Development Financing Authority (MSBDFA) - EPIP Loan​

Designed to assist businesses in socially and economically disadvantaged areas to obtain working capital, equipment or contract financing.

Eligibility:

  • Minimum 1:1 private capital match
  • Lender must have 20% at risk

Terms:

  • Loan Size: $25,000 to $2​,000,000

SSBCI Equity Programs

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Maryland Small Business Development Financing Authority (MSBDFA) Equity​

Designed to assist businesses in socially and economically disadvantaged areas.​

Eligibility:

  • Minimum 1:1 private capital match

Terms:

  • Investment Size: $25,000 to $1,000,000
  • Equity in pfd stock, common stock, warrants, partnership interests and other equity-like structures

TEDCO Venture Capital Limited Partnership​ - NOW Accepting Applications

Designed to fund Early-stage Venture Capital funds focused on investing in Maryland.

Eligibility/Criteria:

  • Investment thesis and ROI
  • Fund Management focus/sector experience
  • Commitment to Maryland

Terms:

  • TEDCO Standard Limited Partnership terms
  • Fees to meet SSBCI guidelines

TEDCO Social Impact Funds - NOW Accepting Applications

Designed to assist Pre-seed technology start-ups founded by the socially and economically disadvantaged.

Eligibility:

  • 50%+ founders ownership demonstrate economic and social disadvantage
  • Minimum 1:1 private capital match
  • Less than 251 employees
  • Equity raised to date < $15M
  • Technology based business

Terms:

  • Convertible note or equity
  • Investment Size: $200,000 to $500,000

TEDCO SEED Investment Funds - NOW Accepting Applications

Designed to assist businesses with seed stage investing.

Eligibility:

  • Less than 15-30 employees based on funding source
  • Minimum 1:1 private capital match
  • Equity raised to date between $2M - $5M, based on funding source
  • Four types of investment: cyber tech/info tech, life sciences, general tech commercialization and gap funding

Terms:

  • Convertible note or equity
  • Investment Size: $200,000 to $750,000

TEDCO Maryland Venture Fund​ - NOW Accepting Applications

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Designed to assist technology based businesses during the Pre-seed to Pre-Venture Capital funding stage.

Eligibility:

  • Less than 251 employees
  • Equity raised to date < $15M
  • Minimum 1:1 private capital match
  • Technology based business

Terms:

  • Convertible note or equity
  • Investment Size: $500,000 to $2,000,000

For More Information

Contact: dhcd.ssbci@maryland.gov or 866-266-3558

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