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Economic Development

Posted on: May 17, 2023

Governor Moore Announces $15 Million Available for Small Business Relief

Governor Wes Moore announced a $15 million commitment to minority-led small business lender Lendistry to provide relief to Maryland small businesses. The commitment is the latest investment through the State Small Business Credit Initiative, through which Maryland is deploying up to $198 million in federal relief.

The initiative is administered by three state agencies through nine programs. Through the Department of Housing and Community Development’s Neighborhood BusinessWorks Loan to Lender program, Lendistry will be able to lend up to $250,000 to small businesses that are owned and operated by Socially and Economically Disadvantaged Individuals; Very Small Businesses; or are in Community Development Financial Institutions Investment Areas.

State Small Business Credit Initiative program funds are also administered by the Maryland Department of Commerce and the Maryland Technology Development Corporation. To learn more, visit open.maryland.gov/ssbci.

To apply for a loan through Lendistry, go to https://dhcd.maryland.gov/Business/Pages/SSBCI/SSBCI-NBW.aspx#ParticipatingCDFIs.

For more information...

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