Small Business Assistance Program
State of Maryland
Maryland Department of Business & Economic Development
www.dbed.state.md.us (see “Business Assistance”)
The Maryland Small Business Development Center Network (MSBDCN)
301-403-0501 (College Park)
The MSBDCN provides counseling and consulting services, as well as, training programs to prospective and current business owners in Maryland. Maryland maintains a network of Small Business Development Center satellite offices across the state, with headquarters in College Park.
Business Tax Credits and Incentives
http://business.marylandtaxes.com (See “Business Tax Credits”)
The State of Maryland offers numerous tax credits and incentives. This website summarizes tax credits that Maryland business owners may be eligible for.
Dingman Center for Entrepreneurship at the University of Maryland
(See “Business & Research Centers” then “Dingman Center for Entrepreneurship”)
The Dingman Center offers a number of classes and programs that help businesses.
U.S. Federal Government
United States Small Business Administration (US SBA)
202-606-4000 (Washington Metropolitan Area District Office)
The U.S. Small Business Administration provides financial, technical and management assistance to Americans who want to start a business. The US SBA is the nation's largest backer of small businesses. Prince George's County's businesses are served by the Washington Metropolitan Area District SBA Office. The Prince George's Small Business Assistance Center and the Prince George's Financial Services Corporation can help connect individuals to many of the US SBA loan programs such as the SBA 504 Loan Program and the 7(A) Loan Guaranty Program.
- SBA 504 Loan Program -
The CDC 504 Loan Program provides growing businesses with long-term, below-market, fixed-rate loans to purchase real estate, build, expand, renovate or make leasehold improvements to buildings, or purchase machinery and equipment. The program covers up to 40% of the total cost of a project.
- 7(A) Loan Guaranty Program -
The 7(A) Loan Guaranty Program provides loans to small businesses unable to secure financing on reasonable terms. The program operates through private lenders but guarantees the loans.