• ​Less than 500 employees
• Proof of private capital match:
  • Target private capital to SSBCI funds match is 4:1 (or 80-20) for non-SEDI/VSB
  • Target private capital to SSBCI funds match is 2.3:1 (or 70-30) for SEDI/VSB
• Minimum required private capital to SSBCI funds match is 1:1

• ​Senior or Junior Debt
• SSBCI portion of loan: $350,000 to $5,000,000
• (For loans less than $3​50,000 please see the SSBCI Participating CDFIs section to apply to a CDFI program)
• Up to 30% program match
• Interest rate is based on an underwriting analysis
• Flexible loan terms up to 30 years, depending on use and loan amount
• Flexible applicant cash contribution is required
• Personal guarantees and collateral are required
• Prepayment lockout period may be applicable

Small businesses operating in Maryland with less than 500 employees. Priority is given to very small businesses (<10 employees) and SEDI individuals who own or operate for-profit or nonprofit Maryland-based small businesses (as defined by the U.S. Small Business Administration​). Local governments are not eligible applicants.         

• ​Owner occupied real estate acquisition or renovation
• Mixed-use projects combining residential and commercial uses in the same building
• Machinery and equipment
• Certain other costs associated with sustaining or expanding a small business
• Manufacturing, Service providers, retail, office or mixed use

• Business located or to be located in a CDFI Investment area
• Business viability and potential impact on the neighborhood
• Readiness to proceed
• Cash flow and collateral
• Priority is given to very small businesses and SEDI owned and operated businesses

The following types of projects and activities will not be considered for financing:         

• Residential or transient living facilities (other than mixed-use projects described in eligible projects section)
• Facilities such as community halls, fire stations, hospitals, colleges or universities
• Adult bookstores, adult video shops, other adult entertainment facilities, gambling facilities, gun shops, liquor stores, massage parlors, pawn shops, tanning salons, or tattoo parlors
• Businesses that are engaged in:
• speculative trading on price fluctuations like commodities, wildcatting
• pyramid schemes
• unlawful businesses as deemed by the federal laws or local jurisdiction
• gambling activities

Applicants must complete an SSBCI 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.    

• SSBCI NBW Fees: $250 application fee and $250 closing fee

Designed for Community Development Financial Institutions (CDFIs) for relending to small businesses combined with the required private capital match (Targeted loan of up to $350,000). The loan focuses on businesses owned and operated by Socially and Economically Disadvantaged Individuals (SEDI), Very Small Businesses (VSB) and CDFI Investment Areas.​
     

Apply Now​     

The Venture Funds Program is dedicated to funding and growing the next generation of outstanding early-stage businesses in Maryland.     

The program is designed to assist businesses with high potential job growth that have already raised equity from early-stage investors and are seeking new investors to support reaching the next equity raise. Most companies are positioned to scale and are in need of bridge financing to achieve milestones. Typical bridge rounds are >$2,000,000.     

The Maryland SSBCI program provides loans to CDFIs to re-lend to small businesses owned and operated by SEDI Individuals and located in CDFI Investment Areas. These lenders are listed as a resource for eligible businesses. Please click on the links below to apply.   

• Lendistry​
• City First Enterprise
• FSC First​