There are a variety of funding options available depending on the business type and stage.
For Businesses in Howard County
Specifically for Technology or Intellectual-Property (IP) Based Companies
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 purpose of the Howard County Catalyst Loan Program ("Program") is to assist in the creation and growth of successful small emerging businesses located within Howard County. The Howard County Economic Development Authority ("EDA"), through its Incentives Committee, is the entity responsible for approving applications for loans from the Program. A loan application, in a form approved by the EDA, will be evaluated based on the following guidelines.
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.
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.
Howard County is perfectly situated between Baltimore and Washington, D.C., making it the ideal location to start, grow or relocate a business.
Howard County boasts a thriving and vibrant economy, which makes it the first choice for smart businesses looking to start or expand in the Mid-Atlantic. Add in its central location between Baltimore and Washington, D.C. and you have a real win-win. Howard County also offers more than 70-million square feet of commercial space, providing businesses with the perfect location to do business.