Critical Funding for Business
Whether you’re starting, relocating, or expanding a business in Anne Arundel County, we offer the incentives and financing opportunities to set the foundation for your success.
“Our loan programs serve a broad range of business needs.”
Capital is important for every business to operate and grow. The Anne Arundel Economic Development Corporation offers several financing and tax credit programs to assist businesses.
AAEDC PROGRAMS
Loan Programs
Arundel Community Reinvestment (ACR) Fund: The ACR Fund is designed to spur economic activity, investment and improvement in Anne Arundel County’s 11 Commercial Revitalization Districts. The ACR offers loans up to $100,000 to be repaid over three to seven years at zero percent interest. Eligible improvements include renovation and upgrades to building exteriors and site improvements, including landscaping.
VOLT Fund: Small and minority-owned, women-owned, and Veteran-owned businesses in Maryland may qualify for a loan of between $25,000 to $500,000 for expenses such as business and commercial real estate acquisition and expansion, lease-hold improvements, equipment, and working capital.
VOLT Growth Fund: With a loan of up to $100,000, this program aims to help local companies establish innovative products in the market and create jobs. The VOLT Growth Fund offers flexible underwriting standards and payment terms of up to ten years that allow for revenue growth, workforce expansion, and future equity investment.
VOLT Microloan Fund: Small and minority-owned, women-owned, and Veteran-owned businesses in Maryland may be eligible for a loan of up to $50,000 that can be used for any legitimate business expense including working capital, business vehicle purchase, business equipment, leasehold improvements, and other business items needed to increase revenue and profit.
Next Stage Tech Fund: This zero percent loan program specifically assists technology companies serving the cybersecurity and national defense industries that have gross revenues less than $5 million and fewer than 100 employees. Loans range from $50,000 to $250,000 for such uses as working capital, lease-hold improvements and equipment purchases.
Click here to access online applications for the loan programs.
Other Programs
Economic Development Revenue Bonds: Anne Arundel County encourages private sector financing for economic development projects through the issuance of private activity revenue bonds. Tax-exempt bonds provide access to long term capital markets for fixed-asset financing at tax-exempt rates. Federal tax law limits eligibility to manufacturing facilities, 501(c)(3) nonprofit organizations, and certain energy projects. Additional limitations apply, depending on the specific transaction. Most importantly, you have a resource at AAEDC.
PACE Program: A lending program that helps commercial property owners save money and energy by providing upfront capital so they can improve their buildings.
Community Revitalization Tax Credit: This tax credit benefits owners of commercially or industrially zoned property in one of the county’s 11 designated revitalization districts.
Job Creation Tax Credit: Companies locating to Anne Arundel County are eligible for this program offered to newly locating or expanding companies in the State of Maryland.
STATE PROGRAMS
Maryland Department of Commerce Loan Programs
Maryland Energy Administration – Lawton Loan Program