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Next Stage Tech Fund

Technical Controller Working at His Workstation

AAEDC is an active partner in growing our innovation community by providing an important lifeline of financing to help technology companies get to the next stage of growth.

Anne Arundel County’s innovation community includes corporate partners, such as Northrop Grumman, Jacobs Engineering and Booz Allen, prominent DOD agencies and national security professionals that are the foundation of our start-up scene.

Ask yourself the following questions:

  • Does your technology company have gross revenues less than $5 million and fewer than 100 employees?
  • Does your company support national defense, including but not limited to, logistics and technical support?
  • Do you employ designers, developers or producers of materials, components or equipment required to meet the needs of national defense?
  • Are you planning on allocating money for compliance certifications like CMMC?
  • Does your company provide a product or service that is deemed ancillary to or in support of the nation’s cyber and defense industry?
  • Will financing help your business create new full-time jobs within the first year?

If you answered “Yes” to all the questions, consider applying for a loan through AAEDC’s Next Stage Tech Fund. The loan can be structured with flexible payment terms to accommodate your company’s cash flow.

  • low interest loans of between $50,000 to $250,000.
  • Eligible uses: lease-hold improvements, equipment and working capital to help fund growth.
  • Payment term of 1-5 years based on cash flow.
  • A business must remain in Anne Arundel County for the length of the assistance. Moving out of the county will trigger the full principal balance of the loan to be due.
  • All owners with over a 20% stake will be required to sign a personal guaranty.
  • Collateral may be required.
  • Startup companies will be required to have a business plan and contracts in place to cover debt service.
  • Standard underwriting practices will be used to process the loan. Factors to be considered include repayment capacity, financial strength of the company and guarantors, industry and management experience, and collateral protection.

Click here to access the online application.
Other Funding Programs

Ready to Grow Your Business?

Contact our staff about the Next Stage Tech Fund!