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Micro-Enterprise Loan Fund – MD DHCD
The Micro-Enterprise Loan Fund – MD DHCD is designed to provide micro loans to businesses located in Sustainable Communities designated by the Maryland Department of Housing and Community Development. Eligible uses are leasehold improvements, equipment purchases, working capital expenditures, and human capital increases for the purpose of expanding their established business and feasible start-ups.
Features:
- Loans: Ranging from $5,000 – $50,000
- Loan Term: 2 to 5 year maximum term
- Interest rate: Up to 12%
- Collateral: Business and Personal Assets
- Personal Guaranties required
- Available to home-based businesses based on FSC First’s approval
- Now available to businesses located in Priority Funding Areas (PFA’s) and Sustainable Communities Statewide
Click here to determine if your business location qualifies.
If you are ready to apply for the Micro-Enterprise Loan Fund – MD DHCD now, please call us or click here to begin the application process.
301.883.6900
