|St. Mary’s County and the State of Maryland have a number of
financing programs to assist small businesses.
St. Mary’s County Business Finance Programs:
Community Development Corporation Guarantees
Business Loan Guarantee Program provides guarantees for under
collateralized loans for start up or early stage small
businesses located in one or more of the County’s Priority
• Industrial Revenue Bonds are tax exempt
bonds financed by the County.
• Brownfields Incentives
(Leonardtown) Encourage the cleanup and revitalization of
(Payment in Lieu of Taxes) allows property owners of rental
complexes to pay an annual percentage of revenues rather than
the traditional taxed rate on assessed value to maintain units
at affordable rent level.
IMPACT Fee Waiver/Deferral Program creates an incentive for
builders and developers to create communities that are
affordable for lower income residents.
information on the above programs please contact the St. Mary’s
County Department of Economic & Community Development at
301-475-4200 ext. 1400.
State of Maryland
Business Finance Programs
Direct Loan Guarantees
provides financing for small businesses unable to qualify for
financing from traditional lenders.
• The Contract
• The Equity Participation Investment
The Long-Term Guaranty Program
• The Surety Bonding
• Community Development Block Grant Economic
Development Program provides funding to commercial industrial
economic development projects.
• Maryland Economic
Development Assistance Authority and Fund offers five financing
capabilities with assistance provided to the business community
and local jurisdictions.
• Maryland Industrial
Development Financing Authority encourages private sector
financing in economic development projects located in Priority
• Maryland Venture Fund financed and
operated by the MD Department of Business and Economic
Development, makes direct investments in emerging technology and
life sciences companies
• Tax Incentives are offered to
businesses that create new jobs, hire disabled employees or
employees from low-income population or make investments in
targeted geographic areas.
• Maryland Grants Office
provides businesses with resources to research potential funding
opportunities, including federal and state grants, federal
procurement and private foundations.
• Training Grants
to assist Maryland businesses to retain and grow their existing
workforce are offered by The Department of Labor, Licensing and
Regulation, Division of Workforce Development. The program is
intended to provide a dollar for dollar
match for grants designed to increase the skills of existing
For a complete list or further information
about the Maryland Department of Business and Economic
Development (DBED) financing program’s contact your nearest
regional economic development office or visit
Southern Maryland Regional Office:
Regional Development Representative
Burnt Store Road
P.O. Box 549
Hughesville, MD 20637