Microenterprise Loan Program

​The Maryland Micr​oenterprise Loan Program expands opportunities for microenterprise development, creates new opportunities for small business development and sustains local economies in Maryland communities. The Microenterprise Loan Program ​is designed to provide entrepreneurs with flexible financing for microenterprise start-ups and expansions within designated Sustainable Communities and Priority Funding Areas throughout the State. The Maryland Department of Housing and Community Development has established partnerships with community-based microlenders as Intermediaries that originate and administer microenterprise loans.

Our local partners understand their local economy and can provide micro-entrepreneurs with easier access to training and technical assistance. This new public-private partnership will provide better access to capital for establishing and sustaining micro-businesses.

Intermediary Microloan Partners

Baltimore Community Lending (serving Baltimore City)
P: 410-727-8590 | W: https://bclending.org​

​Enterprise Development Group - Arlington, VA (Serving Anne Arundel, Baltimore, Charles, Frederick, Howard, Montgomery, Prince George's, St. Mary's counties and Baltimore City)
P: 703-685-0510 | W: https://www.ecdcus.org

Latino Economic Development Center - Washington, DC (Serving Anne Arundel, Baltimore, Charles, Frederick, Harford, Howard, Montgomery, ​Prince George's counties and Baltimore City)
P: 202-540-7412 | W: https://www.ledcmetro.org

Maryland Capital Enterprises, Inc. – Salisbury MD (Serving Anne Arundel, Baltimore, Caroline, Dorchester, Kent, Queen Anne, Somerset, Talbot, Wicomico, Worcester Counties and Baltimore City)
P: 410-546-1900 | W: www.marylandcapital.org

Prince George’s Financial Service Corporation – Largo MD
(Serving Prince George’s County)
P: 301-883-6900 | W: fscfirst.net

Please contact the intermediary directly to receive an application.

Eligible Businesses

  • Retail businesses
  • Manufacturing businesses
  • Goods and Services related businesses
  • Must be located in a designated Sustainable Community area
  • Small business cannot exceed $500,000 in annual revenue
  • Not more than 5 employees at time of application

Eligible Uses of Funds

  • Working capital
  • Marketing/planning/feasibility studies
  • Real estate acquisition down payment
  • Minor renovations
  • Minor leasehold improvements
  • Machinery and equipment
  • Certain other costs associated with opening or expanding a small business

Ineligible Uses of Funds

  • No residential or transient living businesses, multifamily or single-family housing developments, nursing homes, assisted living facilities, crisis care centers, group homes, transitional housing, and homeless shelters
  • No facilities such as community halls, fire stations, hospitals, colleges, or universities
  • No adult bookstores, adult video shops, other adult entertainment facilities, gambling facilities, gun shops, liquor stores, massage parlors, pawn shops, tanning salons, or tattoo parlors
  • No home-based businesses

Microloan Terms

  • Microenterprise Loan Program portion of loan cannot exceed $50,000
  • Additional funds may be added to project by Intermediary
  • Rates up to 12%
  • Loan term cannot exceed 5 years
  • Collateral is required and may include, but is not limited to personal guarantees, liens on business assets and pledges of accounts
  • No prepayment penalties

More Information

CONTACT: Business Lending Team
E: dhcd.businesslending@maryland.gov​
P: 301-429-7408