​​​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)
  Phone: 410-727-8590​
• ​Enterprise Development Group - Arlington, VA (Serving Anne Arundel, Baltimore, Charles, Frederick, Howard, Montgomery, Prince George's, St. Mary's counties and Baltimore City)
  Phone: 703-685-0510
• ​ Latino Economic Development Center - Washington, DC (Serving Anne Arundel, Baltimore, Charles, Frederick, Harford, Howard, Montgomery, ​Prince George's counties and Baltimore City)
  Phone: 202-540-7412
• ​ Maryland Capital Enterprises, Inc. – Salisbury MD (Serving Anne Arundel, Baltimore, Caroline, Dorchester, Kent, Queen Anne, Somerset, Talbot, Wicomico, Worcester Counties and Baltimore City)
  Phone: 410-546-1900
• ​ Prince George’s Financial Service Corporation – Largo MD
  (Serving Prince George’s County)
  Phone: 301-883-6900

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

Contact Information

Contact Program: Business Lending Team
Email: [email protected]​
Phone: 301-429-7408