Maryland may be a small state, but it’s also the thriving, bustling home to over 600,000 small businesses–which make up over 99% of all businesses that operate within the Old Line state. These mighty businesses employ over a million Maryland residents (almost half of the state’s workforce), so it’s no secret that small business owners are a vital part of the population—and they deserve funding! 

If you’re a small business owner who operates in Maryland (or you’re considering becoming one), check out this list of funding options. Here, you’ll find business grants and loans only available to businesses that operate within the great state of Maryland. Check these out.


Department or Agency: Southwest Georgia United

Loan or Grant title: Small Business Loan Program

Businesses in Georgia that have less than 500 employees may be eligible for Southwest Georgia United’s Small Business Loan Program. This program was created to help underserved businesses access funds. Loans are made in amounts up to $250,000 and can be used toward working capital, inventory, equipment, franchise fees, and more.


Department or Agency: Exelon Corp.

Loan or Grant title: Exelon Racial Equity Capital Fund

The Exelon Racial Equity Capital Fund provides minority-owned businesses with loans of $100,000 to $300,000 and equity investments of up to $1 million. The funds can be used for hiring workers, growing the business, and general working capital. To qualify, the business must be in a community served by one of the six Exelon utilities, demonstrate an ability to create jobs and expand operations, and show an ability to repay the loan. 


Department or Agency: Department of Commerce

Loan or Grant title: Maryland Economic Adjustment Fund (MEAF)

The Maryland Economic Adjustment Fund extends loans up to $150,000 for small and underserved businesses that have fewer than 50 employees. To be eligible, the business must demonstrate creditworthiness and ability to repay the loan, as well as an inability to qualify for loans from a traditional lender. Businesses can use the funds for working capital, equipment, building renovation, real estate acquisition, and site improvements. 


Department or Agency: Department of Commerce Office of Tourism

Loan or Grant title: Maryland Alcohol Manufacturing Promotion Fund

The Maryland Alcohol Manufacturing Promotion Fund provides grants to nonprofit organizations and state and local governments. The grant money can be used to create or expand the state’s breweries, distilleries, and wineries. The business will need to explain how it will use the funds to attract new visitors, educate the public about alcohol manufacturing, expand minority ownership, and/or promote the state’s alcohol-related agricultural products.

(note that applications close after November 8, 2024). 


Department or Agency: Department of Housing and Community Development

Loan or Grant title: Microenterprise Loan Program

The Maryland Micr​oenterprise Loan Program provides loans of up to $50,000 to use toward marketing, equipment purchases, working capital, and other costs associated with opening or expanding a small business. To qualify, the business must be in the retail, manufacturing, or goods and services industries, be located in a designated sustainable community area, earn a revenue of up to $500,000 per year, and employ five or fewer employees. 


Department or Agency: University of Maryland, Baltimore County

Loan or Grant title: Maryland Technology Internship Program

The Maryland Technology Internship Program reimburses employers for up to 50% of an intern’s wages, up to $3,000 per intern each year. The program is open to technology-based businesses, nonprofit organizations, and state and local agencies that are based in Maryland. To qualify, the business must hire interns who meet eligibility requirements. 


Department or Agency: Anne Arundel Economic Development Corp.

Loan or Grant title: Next Stage Tech Fund

The Next Stage Tech Fund provides loans to technology companies serving the cybersecurity and national defense industries. To qualify, the business must earn less than $5 million in gross revenue and employ fewer than 100 employees. Loans come with a 0% APR and range from $50,000 to $250,000. The money can be used for working capital, leasehold improvements, and equipment purchases.


Department or Agency: Anne Arundel Economic Development Corp.

Loan or Grant title: Arundel Community Reinvestment (ACR) Fund 

Businesses in Anne Arundel County’s 11 commercial revitalization districts may be eligible for a loan of up to $100,000. The money can be used for landscaping projects and building improvements. 


Department or Agency: Anne Arundel Economic Development Corp.

Loan or Grant title: VOLT Fund

The Anne Arundel Economic Development Corporation (AAEDC) offers loans from $25,000 to $500,000 for minority-owned, veteran-owned, and women-owned businesses in Maryland. Eligible borrowers can use the funds for business and commercial real estate acquisition and expansion, lease-hold improvements, equipment, and working capital.


Department or Agency: Anne Arundel Economic Development Corp.

Loan or Grant title: VOLT Growth Fund

Through AAEDC’s VOLT Growth Fund, innovative high-growth tech companies in Maryland can get a loan of up to $100,000. To qualify, the company needs to have a product ready to bring to market and positive cash flow projections for 12 months. 


Department or Agency: Anne Arundel Economic Development Corp.

Loan or Grant title: VOLT Microloan Fund

The AAEDC also offers microloans of up to $50,000 to small and minority-owned, women-owned, and veteran-owned businesses in Maryland that need funding. Eligible businesses can use the capital for working capital, business vehicle purchases, business equipment, and leasehold improvements. To qualify, companies must have under $500,000 in revenue, fewer than ten employees, an operating history of at least two years, and must have graduated from a business accelerator program. 


Department or Agency: Anne Arundel Economic Development Corp.

Loan or Grant title: Next Stage Tech Fund

The AAEDC gives loans between $50,000 and $250,000 to Maryland technology companies serving the cybersecurity and national defense industries. To qualify, companies need to have gross revenues of less than $5 million and employ fewer than 100 people. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Business Telework Assistance Grant

The Business Telework Assistance Grant helps businesses retain and create jobs in Maryland. Under the program, businesses can get grants of up to $25,000 to expand their telework capabilities for employees. The funds can be used to develop and implement telework policies, purchase software and equipment, and provide technical services. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Environmental Product Declaration Assistance Fund

Maryland companies that produce cement or concrete mixes can get grants to support the development, standardization, and transparency of Environmental Product Declarations (EPDs). To be eligible, you need to be in good standing with the state and have incurred expenses related to producing cement and concrete mixes after July 1, 2023. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: ExportMD Program

Maryland’s ExportMD Program reimburses eligible companies for the cost of marketing internationally—up to $5,000. To qualify, small and mid-sized businesses need to be located in Maryland, in good standing with the state, in existence for at least one year, and planning an international business initiative. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Agribusiness Equipment and Working Capital Loan Fund

The Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO) has a loan fund to help rural Maryland agribusinesses innovate and explore new opportunities. The loan amount ranges from $15,000 to $100,000 and can be used to finance working capital and equipment purchases. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Urban Agriculture Commercial Lending Incentive Grant

MARBIDCO’s Urban Agriculture Commercial Lending Incentive Grant is designed to support Beginning Urban Farmers who have ten or fewer years of experience. Eligible farmers can get grants up to $15,000 for equipment and working capital and up to $35,000 for real property—but no more than 25% of the project’s total cost. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Upper Shore Regional Council Farm Incentive Fund 

The Upper Shore Regional Council Farm Incentive Fund gives eligible farmers in Cecil, Kent, and Queen Anne’s counties a 5% equity contribution (up to $5,000) toward a project funded by a MARBIDCO loan. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Southern Maryland Agricultural Loan Equity Incentive Matching Fund

The Southern Maryland Agricultural Loan Equity Incentive Matching Fund gives eligible farmers in Anne Arundel, Calvert, Charles, Prince George’s, and St. Mary’s counties a 5% equity contribution (up to $5,000) toward a project funded by a MARBIDCO loan. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Resource-Based Industry Financing Fund (MRBIFF)

The Maryland Resource-Based Industry Financing Fund (MRBIFF) offers low-interest loans to Ag/RBI-industry businesses to purchase land and capital equipment for production and processing activities. MARBIDCO provides 20% to 40% of the debt financing for a project, with a commercial lender and/ or public entity providing the rest. The maximum loan amounts are $300,000 for equipment and fixed assets, $600,000 for real estate purchases and renewable energy projects, and $1 million for large-scale food/fiber processing projects. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Oyster Shucking House Loan Fund

MARBIDCO can offer loans from $25,000 to $250,000 to companies involved in oyster processing activities. The loan amount depends on how many new, full-time jobs the particular project creates or retains. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Large Animal Veterinarian Assistance Loan Program

MARBIDCO can offer loans from $25,000 to $250,000 to companies involved in oyster processing activities. The loan amount depends on how many new, full-time jobs the particular project creates or retains. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Livestock Processing Loan Fund Program

MARBIDCO offers loans from $250,000 up to $2.5 million to small and medium-sized meat and poultry processing companies in Maryland. Eligible borrowers can use the funds to start up or expand facilities to increase the processing of meat, poultry, and blue catfish. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Vineyard/Hopyard/Orchard Planting Loan Fund

MARBIDCO offers loans from $10,000 to $100,000 to Maryland vineyard, orchard, and hopyard businesses. Eligible businesses can use the funds to prep land for plant installation, purchase vines or trees, and buy equipment and supplies. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Forestry Equipment and Working Capital Loan Fund

MARBIDCO offers loans from $15,000 to $150,000 to businesses specializing in or dealing with forest-related products. Eligible businesses can use the funds to buy equipment or cover working capital. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Shellfish Aquaculture Financing Fund

MARBIDCO offers loans from $5,000 to $100,000 to Maryland businesses that need financing to start or expand shellfish aquaculture operations. Eligible businesses can use the funds to purchase substrate and seed, as well as capital equipment. 


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Remote Setting Shellfish Aquaculture Loan Fund

MARBIDCO offers loans from $5,000 to $30,000 to Maryland commercial watermen who want to start or expand shellfish remote-setting aquaculture operations. To apply, you must have production and business plans that demonstrate the financial feasibility of the planned aquaculture operation.


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Maryland Watermen’s Microloan Program

MARBIDCO offers loans from $7,000 to $40,000 to Maryland “generational watermen,” licensed commercial watermen who can demonstrate that 50% or more of their annual income was derived from commercial seafood harvesting. Eligible businesses can use the funds to purchase equipment or a workboat.


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Southern Maryland Revolving Loan Fund for Agriculture

Together with the Southern Maryland Agricultural Development Commission (SMADC), MARBIDCO offers loans from $10,000 to $20,000 to eligible farmers in the following counties: Anne Arundel, Calvert, Charles, Prince George’s, and St. Mary’s. Borrowers can use the loan money to purchase livestock, incubate the production of small fruits, purchase equipment, and more.


Department or Agency: Maryland Agricultural & Resource-Based Industry Development Corporation (MARBIDCO)

Loan or Grant title: Rural Business Energy Efficiency Improvement Loan Fund

In partnership with the Maryland Energy Administration, MARBIDCO offers affordable financing to Maryland food and fiber processing businesses to improve energy efficiency. Eligible farmers and agricultural-based industry business owners can get loans from $5,000 to $30,000.  


Department or Agency: Maryland Energy Administration (MEA)

Loan or Grant title: Mechanical Insulation Grant Program

The Maryland Energy Administration’s (MEA) Mechanical Insulation Grant Program helps businesses install mechanical insulation on a commercial or industrial property. The grant amount varies. 


Department or Agency: Maryland Energy Administration (MEA)

Loan or Grant title: OPEN Energy Innovation Grant Program

The MEA awards grants to businesses that submit innovative proposals for energy projects that reduce greenhouse gas emissions, and help make energy more affordable. Grants will be up to $200,000. 


Department or Agency: Maryland Energy Administration (MEA)

Loan or Grant title: Commercial, Industrial, and Agricultural Grant Program

Under this program, MEA grants are given to Maryland commercial and industrial businesses, data centers, non-profits, farms, and other agricultural entities. Eligible businesses can use the grants to invest in energy-efficiency improvements.


Department or Agency: Maryland Energy Administration (MEA)

Loan or Grant title: Jane E. Lawton Conservation Loan Program

Under this program, Maryland businesses can get a loan between $10,000 and $50,000 to implement cost-effective energy efficiency and conservation improvements for existing or soon-to-be-constructed facilities.


Department or Agency: Maryland Energy Administration (MEA)

Loan or Grant title: FY25 Solar Canopy and Dual Use Technology Grant Program

Under this program, eligible Maryland businesses can get grants to install solar canopies on parking lots and parking garages, which include the installation of at least four Level 2 or Level 3 electric vehicle chargers under or around the solar canopy. The maximum grant amount is $400,000 per project. 


Department or Agency: Maryland Energy Administration (MEA)

Loan or Grant title: Maryland Offshore Wind Supply Chain Investment Program

The MEA offers grants to help new and existing Maryland businesses enter the offshore wind supply chain in Maryland. The grant amount is 50% of the total project costs, not to exceed $400,000. Applicants must contribute at least 50% of the matching grant funds. 


Department or Agency: University of Maryland, Baltimore County (UMBC)

Loan or Grant title: Maryland Technology Internship Program

The University of Maryland, Baltimore County (UMBC) runs the Maryland Technology Internship Program (MTIP) and helps Maryland businesses retain top talent. The program gives grants to technology-based businesses with 150 or fewer employees to hire more interns. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Partnership for Workforce Equality 

Maryland provides matching grants and support services to small and mid-sized manufacturing and technology companies. Eligible businesses can use the money to upskill existing employees, increase employee productivity, and improve overall employee retention. The grant amount of 50% of the project costs, up to $200,000. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Winery and Vineyard Economic Development Grant Program (WVEDG)

Maryland’s Winery and Vineyard Economic Development Grant Program helps businesses establish a new winery or vineyard in Maryland or complete capital improvements at an existing winery or vineyard. Eligible businesses can get a grant equal to 25% of their total project costs. Applications are due January 15, 2025. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Maryland Capital Access Program

The Maryland Capital Access Program helps small businesses that have struggled to obtain business loans from traditional financial institutions. Loan amounts go up to $250,000. Eligible small businesses need to be located in Maryland and have fewer than 50 employees. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Maryland New Start Microloan Program

The Maryland New Start Microloan Program gives loans of $50,000 to eligible covered entrepreneurs who need capital to start a business in Maryland. Covered applicants include people who’ve been convicted of a criminal offense, completed a term of imprisonment in a federal prison or a state or local correctional facility, or been approved for release by a correctional facility for the purpose of participating in a training program.  


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Maryland Small Business Development Financing Authority (MSBDFA)

The Maryland Small Business Development Financing Authority (MSBDFA) helps small businesses in Maryland obtain financing for a range of uses, including working capital, supplies and materials, machinery and equipment acquisition, acquisition of real estate, and leasehold improvements.


Department or Agency: Maryland Department of Housing and Community Development

Loan or Grant title: Neighborhood BusinessWorks

The Neighborhood BusinessWorks program provides flexible financing to new or expanding small businesses and nonprofit organizations in Sustainable Communities and Priority Funding Areas throughout Maryland. Eligible businesses can use the funds on new construction or rehabilitation, machinery and equipment, business expansion, real estate acquisition, manufacturing, and more. The loan amount is up to $5 million. 


Department or Agency: Maryland Department of Commerce

Loan or Grant title: Small, Minority and Women-Owned Business Account – Video Lottery Terminal Fund (VLT)

Maryland’s Video Lottery Terminal (VLT) fund uses proceeds from video lottery terminals (slots) to assist small, minority, and women-owned businesses located in targeted areas surrounding six Maryland casinos: Maryland Live in Anne Arundel County, Hollywood Casino Perryville in Cecil County, Rocky Gap in Allegany County, Ocean Downs in Worcester County, Horseshoe Casino in Baltimore City and National Harbor in Prince George’s County. 


Back to top