Industrial Revenue Bonds for Manufacturers and 501(c) (3) Organizations
Tax exempt financing for the acquisition of land, buildings, and equipment
IRB Bonds are sold to lending institutions, investors and the public
IRB Purchaser determines fixed or floating interest rate
Federal law limits the terms, amount and uses of financing
Economic Development Opportunity Fund
Stimulates increased financing for new equipment and operations by complementing traditional lenders, state or federal funding programs.
Local and federal funds used to encourage investment, retention and job creation for working capital, equipment purchases, land or building improvements and purchases.
Maximum Loan amount is $100,000.
Download EDOF Fund Here
Enterprise Loan Fund
Partnership between M&T Bank offers a 1/4% discount off standard interest rates to qualifying businesses to refurbish or develop commercial property.
- Available to businesses located along Harford County's U.S.Route 40 Corridor, including the Edgewood/Joppa and Greater Aberdeen/Havre de Grace Enterprise Zones.
- Loan amounts range from $50,000 to $3,000,000.
Community Block Development Grant for Economic Development
Fosters development in industrial targeted areas and includes funding for:
- Water and sewer lines
- Extension of rail service
- Construction and renovation of new and expanding businesses
State of Maryland Financing Programs
http://www.choosemaryland.org
Federal Financing Programs
http://sba.gov
The United States Small Business Administration provides several resources for funding including:
SBA504
Provides "existing viable small businesses with long-term, below-market rate financing for the acquisition of land, building, machinery and equipment, construction and renovation, resulting in the creation of new full-time jobs.
SBA7A
Provides financing to small businesses that could not obtain financing through other channels, and are able to meet the underwriting criteria of the submitting bank and the SBA.
