AAEDC Financial Solutions
Smart financing fuels strong businesses. From early-stage startups to growing companies, AAEDC’s financing and incentive programs are built to support growth, innovation, and long-term success across Anne Arundel County.
VOLT Fund
Ideal For: Small and minority-owned, women-owned, and Veteran-owned businesses in Maryland looking to start, grow, or expand operations.
Loan Amount: $25,000 – $500,000
Use of Funds: Business and commercial real estate acquisition, expansion, leasehold improvements, equipment purchases, and startup expenses available at below market interest rates.
VOLT Microloan Fund
Ideal For: Small and minority-owned, women-owned, and Veteran-owned businesses that have been in business for at least 2 years, graduated a business accelerator program, and are seeking low-cost flexible, expansion capital.
Loan Amount: Up to $50,000
Use of Funds: Expansion capital, business vehicle purchases, equipment, leasehold improvements, and other legitimate business expenses that support revenue growth.
VOLT Growth Fund
Ideal For: Established local high growth businesses that have developed an innovative product, that is expanding into new markets, increasing sales, and creating jobs.
Loan Amount: Up to $100,000
Use of Funds: Workforce, expansion, equipment and other growth-related investment with flexible long-term repayment options.
Arundel Community Reinvestment (ACR) Fund
Ideal For: Businesses and property owners looking to make improvements to the exterior of a commercial property located in one of Anne Arundel County’s 11 Commercial Revitalization Districts including in the city of Annapolis and select areas in South County.
Loan Amount: Up to $100,000 (0% interest)
Use of Funds: Exterior building renovations, site improvements, façade upgrades, landscaping, and other exterior improvements that strengthen commercial corridors.
Next Stage Tech Fund
Ideal For: Technology companies serving the cybersecurity and national defense industries with fewer than 100 employees and less than $5 million in gross revenue that are looking to get started or expand.
Loan Amount: $50,000 – $250,000
Use of Funds: Working capital to cover accounts receivable, leasehold improvements, cybersecurity compliance certifications, technology equipment, and operational growth needs available at below market interest rates.
Economic Development Revenue Bonds
Ideal For: Manufacturers, eligible 501(c)(3) nonprofit organizations, and certain energy projects pursuing large-scale capital investments.
Loan Amount: Based on project size and financing structure
Use of Funds: Fixed-asset financing such as land acquisition, building construction, facility expansion, and major equipment purchases through tax-exempt bonds.
Grants That Support Growth and Recovery
AAEDC provides targeted grant programs that support long-term growth and resilience, including annual investment in Anne Arundel County’s agricultural community as well as responsive disaster relief efforts when businesses face unexpected challenges.
Agricultural Business Improvement Grant (ABIG)
Ideal For: Farm-based businesses and commercial watermen in Anne Arundel County.
Grant Amount: Matching grants up to $10,000 (one-to-one match required).
Use of Funds: Eligible projects include fencing, livestock, plant stock, equipment, and agricultural infrastructure improvements that increase efficiency, revenue, or operational capacity.
Arundel Community Reinvestment (ACR) Fund & Tandem Grant
Ideal For: Businesses and property owners looking to make improvements to the exterior of a commercial property located in one of Anne Arundel County’s 11 Commercial Revitalization Districts, including in the city of Annapolis and select areas in South County.
Loan Amount: Up to $100,000 (0% interest), with up to 50% (max $50,000) grant
Use of Funds: Exterior building renovations, site improvements, façade upgrades, landscaping, and other exterior improvements that strengthen commercial corridors.
Disaster Relief Grants
Ideal For: Businesses impacted by declared emergencies or disasters.
Grant Amount: Varies by event and funding availability.
Use of Funds: Immediate recovery and operational relief to help stabilize, reopen, and move forward after a disaster or declared state of emergency.
Financial Solutions FAQs
Have questions about financing your business? AAEDC’s financial programs and loans are designed to support businesses at every stage, from startup to expansion, while making the process as clear and approachable as possible.
What types of financial programs does AAEDC offer?
AAEDC offers a range of financial solutions including loan programs, tax credits, grants, and bond financing. These programs are designed to support business growth, revitalization efforts, innovation, job creation, and recovery following unexpected disruptions.
Who is eligible to apply for AAEDC financial assistance?
Eligibility varies by program, but many opportunities are available to small businesses, minority-owned, women-owned, and Veteran-owned businesses, as well as technology companies, agricultural operations, and businesses looking to locate, expand, or invest in Anne Arundel County.
Does my business have to be located in Anne Arundel County to receive funding?
Most AAEDC programs require businesses to be located in, expanding to, or making a significant investment in Anne Arundel County. Some state or partner programs may have broader eligibility requirements. If a program isn’t the right fit, our team is happy to connect you with a partner or resource that may be able to help.
What documents do I need to submit when applying?
Required documents depend on the program, but typically include a business plan or expansion plan with financial projections, project description, financial statements, tax returns, and cost estimates related to the use of funds.
How do I know which financial program is right for my business?
AAEDC’s Finance team is available to assess your needs and help guide you to the program that best fits your goals, stage of growth, and eligibility. We encourage you to connect with us so we can point you in the right direction.
Are there matching or equity requirements?
Some programs, such as certain grants and loans, require matching funds or owner equity, while others offer flexible underwriting. Requirements are clearly outlined in each program’s application materials.
How long does the application and approval process take?
Timelines vary by program, but AAEDC works to review applications as efficiently as possible. Applicants will be notified of next steps, review timelines, and any additional information needed during the process.
Can I apply for more than one AAEDC program?
Yes, businesses may be eligible for multiple programs depending on their needs and qualifications. AAEDC staff can help ensure applications are coordinated and aligned.
Discover the Right Financial Path
Not sure where to start? Our team of experts can help identify the programs and incentives that make the most sense for your business.