Microenterprise Loan Program
Purpose of the Program
The Maryland Microenterprise Loan Program (MLP) expands opportunities for microenterprise development, creates
new opportunities for small business development and sustains local economies in Maryland communities. MLP is
designed to provide entrepreneurs with flexible financing for microenterprise start-ups and expansions within
designated Sustainable Communities throughout the State. The Maryland Department of Housing & Community D
evelopment (DHCD) has established partnerships with community-based microlenders as Intermediaries that
originate and administer microenterprise loans. Our local partners understand their local economy and can
provide micro-entrepreneurs with easier access to training and technical assistance. This new public-private
partnership will provide better access to capital for establishing and sustaining micro-businesses.
Intermediary Microloan Partners
ECDC - Enterprise Development Group (EDG) – Takoma Park MD – 301.445.1598 –
http://www.entdevgroup.org
(Serving Anne Arundel, Baltimore, Charles, Frederick, Howard, Montgomery, Prince George’s Counties and
Baltimore City)
Latino Economic Development Corporation (LEDC) – Wheaton MD – 1.866-977.LEDC -
http://www.ledcmetro.org
(Serving Montgomery and Prince George’s County)
Maryland Capital Enterprises, Inc. (MCE) – Salisbury MD – 410.546.1900 -
http://www.marylandcapital.org
(Serving Anne Arundel, Baltimore, Caroline, Dorchester, Kent, Queen Anne, Somerset, Talbot, Wicomico,
Worcester Counties and Baltimore City)
Prince George’s Financial Service Corporation (FSC First) – Largo MD – 301.883.6900 –
http://fscfirst.net
(Serving Prince George’s County)
PLEASE CONTACT THE INTERMEDIARY DIRECTLY TO RECEIVE AN APPLICATION
Eligible Businesses
- Retail businesses
- Manufacturing businesses
- Goods and Services related businesses
- Must be located in a designated Sustainable Community area
- Small business cannot exceed $500,000 in annual revenue
- Not more than 5 employees at time of application
Eligible Uses of Funds
- Working capital
- Marketing/planning/feasibility studies
- Real estate acquisition down payment
- Minor renovations
- Minor leasehold improvements
- Machinery and equipment
- Certain other costs associated with opening or expanding a small business
Ineligible Uses of Funds
The following types of projects and activities will not be considered for microenterprise loans under this
program:
- No residential or transient living businesses, multifamily or single-family housing developments,
nursing homes, assisted living facilities, crisis care centers, group homes, transitional housing, and
homeless shelters
- No facilities such as community halls, fire stations, hospitals, colleges, or universities
- No adult bookstores, adult video shops, other adult entertainment facilities, gambling facilities, gun
shops, liquor stores, massage parlors, pawn shops, tanning salons, or tattoo parlors
- No home-based businesses
Microloan Terms
- MLP portion of loan cannot exceed $35,000
- Additional funds may be added to project by Intermediary
- Rates up to 7%
- Loan term cannot exceed 5 years
- Collateral is required and may include, but is not limited to personal guarantees, liens on business
assets and pledges of accounts
- No prepayment penalties
For Additional Information Contact:
Michael Haloskey
Director, Business Lending Programs
Phone: 410-514-7237
Email: Haloskey@mdhousing.org
Maryland Department of Housing and Community Development
Division of Neighborhood Revitalization
100 Community Place
Crownsville, Maryland 21032