Maryland Small Business Development Financing Authority Archives

Maryland invests $2.2 million in minority, veteran-owned business growth

Posted on October 13, 2024 by Chris Montcalmo

ANNAPOLIS, MD—Governor Wes Moore this week announced $2.2 million in financial assistance to support small, minority, and veteran-owned business growth in Maryland. According to a press release from the Governor’s Office, the funding includes loans, loan guaranties, and equity investments from the Military Personnel and Veteran-owned Small Business Loan Program and the Maryland Small Business Development Financing Authority. The funds […]

Governor Moore announces $2.7 million in financial support for six small, minority, and veteran-owned Maryland businesses

Posted on May 3, 2023 by Chris Montcalmo

ANNAPOLIS, MD—Governor Wes Moore and the Maryland Department of Commerce this week announced that six small, minority, and veteran-owned businesses have been approved for a total of nearly $2.7 million in financial assistance to support business growth in Maryland. The funding comes in the forms of loans and lines of credit through two state programs—the Military Personnel and Veteran-owned Small […]

Governor Hogan announces Maryland’s State Small Business Credit Initiative programs now open

Posted on August 24, 2022 by Chris Montcalmo

ANNAPOLIS, MD—Governor Larry Hogan this week announced Maryland programs funded by the State Small Business Credit Initiative (SSBCI) are open. Up to $198 million in federal small business relief is being administered by three state agencies: the Maryland Department of Housing and Community Development (DHCD), the Maryland Department of Commerce, and the Maryland Technology Development Corporation (TEDCO). These agencies will […]

Governor Hogan announces $198 million in small business relief

Posted on May 20, 2022 by Chris Montcalmo

ANNAPOLIS, MD—Governor Larry Hogan this week announced that the State of Maryland will deploy up to $198 million in federal small business relief through the State Small Business Credit Initiative (SSBCI). Maryland was the first state in the nation to submit its SSBCI deployment plan to the United States Treasury Department, and today was one of the first five states […]

Governor Hogan announces new Maryland financial relief programs for restaurants, artists, entertainment venues

Posted on November 5, 2020 by Chris Montcalmo

ANNAPOLIS, MD—As part of Governor Larry Hogan’s $250 million economic recovery package for Marylanders affected by the COVID-19 pandemic, new financial assistance programs are now available to restaurants, independent artists, arts organizations, entertainment venues, and Main Street businesses across the state, officials announced on Thursday. “This economic recovery initiative will be critical to the struggling restaurants, small businesses, and Main […]

Governor Hogan announces $250 million ‘Maryland Strong: Economic Recovery Initiative’

Posted on October 22, 2020 by Chris Montcalmo

ANNAPOLIS, MD—Governor Larry Hogan on Thursday afternoon announced the $250 million ‘Maryland Strong: Economic Recovery Initiative,’ which will provide funding from the Rainy Day Fund to directly assist restaurants, small businesses, local entertainment venues, arts organizations, and Main Streets across the state. The initiative doubles the state’s total commitment to COVID-19 emergency economic relief for Marylanders to $500 million. “This […]

Governor Hogan announces $190 million in COVID-19 relief for small businesses, higher education, nonprofits

Posted on June 30, 2020 by Chris Montcalmo

ANNAPOLIS, MD—Governor Larry Hogan on Tuesday announced $190 million in relief to help colleges, small businesses, and nonprofit organizations affected by the COVID-19 pandemic. In total, over the last week, the governor has announced $475 million in new investments through the federal CARES Act. “As Maryland continues to grapple with an unprecedented fiscal crisis, we are directing more than $475 […]

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