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Funding Options

Once you have determined the amount of financial capital required to start or grow your business, our staff will help you navigate the variety of funding options available depending on the business type and stage.

General Resources 
For Businesses in Howard County
Specifically for Technology or Intellectual-Property (IP) Based Companies


General Resources

Maryland Department of Business and Economic Development (DBED): provides a variety of funding programs, from grants to loans to equity investments for early to established companies based in Maryland.

Maryland Industrial Partnerships (MIPs) Program: MIPs brings companies together with University of Maryland based researchers to accelerate the commercialization of intellectual property. Businesses from start-up to established concerns have been awarded MIPs grants to develop products, processes or training materials.

Small Business Administration (SBA) loan guaranty: While the SBA does not loan money directly, it does provide a guarantee to affiliated banks, allowing businesses without a strong credit history an opportunity to borrow money.

For Businesses in Howard County

Catalyst Loan Fund: The Catalyst Fund, powered by the Howard County Economic Development Authority (HCEDA), is part of Maryland’s Video Lottery Terminal Small, Minority and Woman-Owned Business Account initiative. The fund is a locally managed source of capital used to finance start-ups and expanding businesses statewide whose projects will create permanent jobs and leverage private sector investment. Catalyst is a Revolving Loan Fund (RLF) – as borrowers repay Catalyst Fund loans, the principal and interest payments are returned to the fund for lending to other businesses 
to create more jobs and investment opportunities. See more information about the Catalyst Loan Fund.

US Route 1 and US Route 40 Revitalization Loan Programs: The Route 1 and Route 40 loan programs were established to encourage businesses to improve building and site conditions along both corridors. The programs offer at or below prime rate financing through participating banks. See also:  Community Resources For Business Revitalization: A Guide to Improving Your Route 1 Corridor, Howard County Department of Planning and Zoning

Route 1 Property Tax Credit: The Howard County government is committed to stimulating and increasing investment in businesses throughout the County. At the initiation of the County Executive, and with the support and approval of the County Council, the County has established a real property tax credit to encourage reinvestment in Route 1 properties.

This tax credit will foster and encourage renovations, rehabilitation and upgrades of commercial and industrial property that front Route 1. This tax credit can be applied to improvements to both the buildings and the land on properties with less than 10 acres that are adjacent to Route 1 or adjoining Route 1 parcels and visible from the roadway.

The property tax credit for eligible improvements is equivalent to 125% of the verified expenses. The tax credit is applied to the annual property tax. However, if the credit is greater than the real property tax for a single year, it can be carried over and applied to subsequent annual taxes for up to four years! The property owner benefits and so does the community where the improvements occur.

The details about the application, the process for submitting a request and the approval process are described in the links below.

Certificate of Eligibility              Maintenance Agreement

Please feel free to contact Jason Brown at 410-313 3196 or jbrown@howardcountymd.gov if you have any questions.

Specifically for Technology or Intellectual-Property (IP) Based Companies

Maryland Technology Economic Development Corporation (TEDCO): Provides seed-stage funding and working capital loans for companies based in technology or other intellectual property, especially when transferred out of a research institition.

Programs and Services

Ready to grow! With our amazing range of programs and services, HCEDA is sure to have what you need today and tomorrow.

Real Estate

If you are looking to locate your business in Howard County, we are ready to put you on the map.