Financing Your Business


State of Maryland

Neighborhood BusinessWorks

The Maryland Department of Housing and Community Development's Neighborhood BusinessWorks Program provides low-rate, flexible financing for startup and expansion of small businesses and nonprofits locating or expanding in Takoma Park and Prince George's County.

Be SMART Business

Through the Be SMART Business program, energy efficiency improvement projects are qualified for below market interest loan, ranges from $15,000 to $50,000.  Examples of eligible projects include new construction or rehabilitation, leasehold improvements, or machinery and equipment improvements.  This program is offered by the Maryland Department of Housing and Community Development for small business owners and commercial property owners. 

Capital Access Program

The Maryland Capital Access Program is a small business credit enhancement program that enables private lenders to establish a loan loss reserve fund from fees paid by lenders, borrowers, and the State of Maryland. An enrolled loan, or portion of a loan, may range from $10,000 to $1,000,000. Most Maryland small businesses, including nonprofit organizations, are eligible.

Linked Deposit Program

The Maryland Linked Deposit Program is a new, statewide initiative designed to stimulate opportunities for certified Minority Business Enterprises (MBEs) by reducing the interest rate on loans they obtain from participating banks. Certified MBEs that notify the Maryland Department of Housing and Community Development prior to obtaining qualifying loans from enrolled financial institutions may be able to receive a 2% discount on their loan(s). The Linked Deposit Program (LDP) looks to stimulate economic opportunities, enabling a qualified minority business enterprise access to affordable capital in order to grow and expand their business.

Montgomery County

Revolving Loan Program

The Montgomery County Small Business Revolving Loan Program finances small business development/ expansion of companies with gross revenues less than $5,000,000 annually and fewer than 75 employees.

Economic Development Fund 

This Montgomery County Economic Development Fund assists private business through loans to stimulate job creation in urban revitalization areas and in high tech manufacturing.

Technology Growth Program 

The Technology Growth Program provides gap financing (“no-risk” loans) for emerging technology-based companies with innovative products or services. 

Microfinancing, Counseling and Loan Application Preparation 


The LEDC is a local non-profit organization whose mission is to provide prospective and current business owners with various types of assistance in underserved communities.


The Maryland Small Business Development Center (MDSBDC) Network provides advice, counseling and support to entrepreneurs and small to mid-size businesses across the state. The Network links private enterprise, government, higher education and local economic development organizations to provide management, training and technical assistance to Maryland’s small businesses.


ECDC Enterprise Development Group (EDG) is a SBA Microloan Program Intermediary that provides loans throughout the Washington, DC and Baltimore metropolitan areas. EDG is a non-profit organization that offers microloans of up to $50,000 for entrepreneurs and small business owners that are seeking to start, sustain, or expand a business.  EDG's loan officers also provide technical assistance to entrepreneurs who need business assistance. EDG have a local office on the New Ave at 7676 New Hampshire Avenue and are available by appointment: 301-445-1598.

Small Business Administration 

The U.S. Small Business Administration has a website with information regarding loans, online courses, planning and financing a new business.

FSC First

FSC First is a non-traditional lender and certified development corporation that provides a SBA 504 commercial loan to businesses operating in the State of Maryland.  The 20-year term loan typically ranges from $150,000 to $2 million, and is provided in partnership with commercial lending institutions for the purchasing of real estate or long-term equipment. 

Revitalization Grants + Tax Credits

City of Takoma Park

Enterprise Zone Tax Credits

Both Real Property and Employee tax credits are available for new or expanding businesses in the New Hampshire Avenue Corridor.

Property Tax Credit: 80% credit on the taxes due for any expansion or renovation of a commercial property in the New Hampshire Avenue Corridor. The credit last for 5 years at 80% and then decreases by 10% annually for another 5 years.  See Development Incentives for additional information.

Employment Tax Credit: General employment tax credit of $1,000 per new full-time employee and up to $6,000 over a three-year period for an economically disadvantaged new full-time employee.

This program is administered by Pete McGinnity  I 240-777-8126


Prince George's County Economic Development Corporation

Business Development Division

The Business Development Division of the Prince George’s County Economic Development Corporation (301-583-4650) is responsible for the retention, expansion and attraction of businesses to the county. The Division pursues and contacts business prospects that are expanding, moving within the county, or relocating to the county from another jurisdiction. In doing so, the division ascertains the needs of each business and structures an incentive package to meet its requirements. Incentives can include expediting permits, tax abatements, work force assistance, site identification, county and state financial assistance, and SBA financial assistance. In conjunction with Maryland’s Department of Business and Economic Development (, the division identifies established programs that will benefit businesses.

Small Business Initiative

The Small Business Initiative (SBI) was created by EDC to provide direct assistance to the rapid-growth potential small and minority-owned businesses located in Prince George’s County. Additionally, the SBI provides access to: capital, contract awards, and a comprehensive one-stop shop delivery of entrepreneurial training, management consulting and technical assistance.

Enterprise Zone

Prince George's County, through its Enterprise Zone program, has numerous local incentives and assistance products to enhance investment and business creation. The Takoma-Langley Crossroads area lies in one of these zones.


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