Alternative Funding for Business Expansion
The Calvert Economic Development Loan Fund is a revolving loan that provides an alternative funding source for business expansion in Calvert County. The fund is designed to help fund new capital expansion projects, increase the commercial tax base and increase business and employment opportunities in Calvert County.
Rules & Regulations
Businesses may be eligible if:
primary sales/activities are manufacturing, wholesale trade, retail trade and/or business services
the business is a legal entity qualified to do business in the State of Maryland, and
the business has a minimum 2-year operating history with a completed business plan.
Selected business start-ups may be eligible. Help in preparing a business plan is available.
The maximum loan request is limited to $100,000; the minimum loan request is $2,500. Loans considered desirable are those that are used to purchase fixed assets, equipment, inventory and finance contracts as well as loans to expand business in Calvert County. The fund may notbe used for debt refinancing.