Funding is available in four primary sources:
This page describes what examples of funding available in Maryland and our region. This list is not meant to be inclusive but rather representative of what sources are available to the entrepreneur.
The Maryland Department of Business and Economic Development’s International Investment and Trade Office designed the ExportMD Program for Maryland’s small and mid-sized companies to help offset some of the costs of marketing internationally. Eligible companies can receive up to $10,000 for reimbursement in marketing costs and up to 40 hours of assistance from trade experts.
Visit resource: ExportMD Program
Maryland offers a wide variety of direct loan programs for business. They vary by activity, industry and geographic location.
Visit resource: Direct Loans
Maryland Small Business Development Financing Authority (MSBDFA)
Provides financing for small businesses that are not able to qualify for financing from private lending institutions or owned by socially and economically disadvantaged persons.
Visit resource: MSBDFA
Business Corridor Investment Loan Program (BCILP)
The goal of the BCILP is to encourage economic and redevelopment activity in 16 target areas around Anne Arundel County. Qualified business owners are eligible for zero interest loans of up to $35,000 for improvements to the exterior and interior of their business.
Visit resource: BCILP
Small Business Administration (SBA)
Created in 1953, the U.S. Small Business Administration (SBA) is the only independent agency of the federal government with the sole purpose of assisting small businesses to start, grow, and prosper. Several lending partners in the region use SBA loan programs to guarantee or provide direct loans to Annapolis entrepreneurs. Visit resource: www.SBA.gov
Maryland Venture Fund
Makes direct investments in technology and life science companies and indirect investments in venture capital funds. The Fund has two investment vehicles: the Challenge Investment Program and the Enterprise Investment Fund. Visit resource: MD Venture Fund
Equity Participation Investment Program (EPIP)
To enhance business ownership of socially or economically disadvantaged entrepreneurs, EPIP offers financial assistance through loans, loan guaranties and equity investments. Funds can be used for purchasing a franchise, acquiring an existing profitable business or developing a technology based business. Visit resource: EPIP
Wye River Capital
Wye River Capital specializes in providing corporate finance, financial advisory and merchant banking services to companies in the information technology and healthcare sectors. Wye River Capital’s professionals have completed more than 200 equity, debt and related transactions totaling over $15 billion during their collective careers. Based in Annapolis, Maryland, Wye River Capital will invest capital, raise funds through their network and provide other resources to help a company launch or build its business.
Visit resource: Wye River Capital
Chesapeake Emerging Opportunities Club LLC
Chesapeake Emerging Opportunities Club LLC is an early-stage angel investor group that focuses on growing companies with significant growth potential that operate in large markets, are run by talented management and are located within a two-hour drive of Columbia, Maryland. Visit resource: The Club
NEA is a world-wide venture capital firm with an office in Chevy Chase, Maryland. NEA focus on growth companies in information technology, healthcare, and energy. Visit resource: NEA
Mid-Atlantic Venture Association (MAVA)
MAVA provides a wide range of programs, information and forums designed to stimulate revenue and company growth, facilitate quality deal flow, encourage collaboration, and foster relationships among entrepreneurs, investors, strategic partners and customers.
Visit resource: MAVA
Sterling Partners makes seed-stage equity investments in education, healthcare and business services companies with a high potential for achieving rapid growth and generating significant economic return. Visit resource: Sterling Partners
Maryland Department of Business and Economic Development (DBED)
Maryland's best business incentive is its pro-business climate. With a variety of accolades, Maryland ranks among the best places to grow a business. Maryland strives to maintain traditions of sound fiscal management: a diversified group of major employers; a sound economy; fair and consistent taxes; and a traditional, balanced approach to business regulation. This advantageous climate—together with assets such as a strategic location, a commitment to education, and excellent quality of life—makes Maryland a good place to do business. In support of this pro-business environment, Maryland offers a range of incentives and tax credits to assist business growth and reduce the costs of opening or expanding a business. Incentives include financial assistance, tax credits, customized training, and technical support programs. Visit resource: Choose Maryland