Garrett County Government - Department of Business Development

Maryland Small Business Credit Initiative 

Last Updated on Mar 25, 2022 at 2:30pm | Business Resources

As part of the American Rescue Plan Act of 2021, Maryland is slated to receive approximately $184.7 million through the State Small Business Credit Initiative (SSBCI). Maryland will receive an additional $11 million for meeting the Socially and Economically Disadvantaged Individual (SEDI)- led business performance incentive by deploying at least 34.97% of the SSBCI funds to SEDI businesses.
SSBCI will provide funding for small business financing programs, including loan participations and venture equity programs. As part of the future and separate application process, SSBCI funds may also be available for technical assistance to small businesses applying for SSBCI and other government programs.
The Maryland Department of Housing and Community Development has been designated as the lead agency to administer Maryland's SSBCI funds in partnership with the Maryland Department of Commerce and the Maryland Technology Development Corporation?.
Interested business owners and lenders are encouraged to complete an Expression of Interest Form to receive additional information and notification when funding is available. Click on the links below to access the form:
For additional information on the program, please email [email protected].