Be SMART Business
Purpose of the Program
Improving the energy efficiency of the places we work, live and conduct business
not only saves energy, but also saves money & resources, while strengthening the
sustainability of Maryland’s cities and towns.
As part of the Be SMART: Saving Money and Resources Today
energy efficiency program, DHCD is offering low-interest loans to small business
owners and commercial property owners to realize substantial, immediate, and ongoing
cost savings through energy efficiency improvements.
Businesses and commercial building owners located in designated revitalization areas
within Sustainable Communities, Main Street Maryland Communities, Baltimore
City Main Street communities and Arts & Entertainment Districts.
Eligible Projects & Uses of Funds
Be SMART Business funds may only be used for energy efficiency measures. Eligible
projects that utilize additional DHCD funding sources must include an energy efficiency
component as part of the total project in order to be eligible for Be SMART Business.
Project examples include:
- Mixed-use projects combining residential and commercial uses in the same building
- New construction or rehabilitation
- ENERGY STAR Machinery and equipment
- Leasehold Improvements
Two loan options are available to eligible applicants for energy efficiency improvements.
Be SMART Business
Loans up to $50,000 for upgrading of energy efficient appliances, heating & cooling
systems, programmable thermostats, ceiling fans, insulation, windows and doors or
any eligible use
Be SMART Business Plus
Loans exceeding $50,000 that are larger energy efficiency optimization projects
with a focus on energy cost saving measures for buildings exceeding 6,000 sq. ft.
or extensive energy efficient retrofits. In some cases, the Be SMART Business Loan
Fund can be combined with the
Neighborhood BusinessWorks (NBW) Loan Program.
Upon loan approval, an applicant will receive a commitment letter from DHCD. Loan
approval requires that applicants meet underwriting guidelines. Applicants must
have executed the necessary legal documents prior to disbursement of the loan proceeds.
For More Information, Contact:
- Michael Haloskey
- Director, Business Lending Programs
- Maryland Department of Housing and Community Development
- 100 Community Place
- Crownsville, MD 21032