Top Small Business Grants in Maryland

Q: How do you get a small business grant in Maryland?

You can apply for Maryland small business grants, but there’s no guarantee you’ll get approved for one. You may have to submit a grant application as a qualified small business owner to be considered for a small business grant in Maryland.

Q: How hard is it to get a business loan in Maryland?

You may have difficulty getting a small business loan in Maryland if you have bad credit or insufficient business experience. You generally have to pay back business loans with interest.

Q: What is the easiest SBA loan to get approved for?

There’s no guarantee you’ll get approved for any SBA loan, but SBA microloans may be one of the easier ones to get if you’re a new business owner. Startups may be eligible for SBA microloans of up to $50K. If you’re looking for a streamlined application process, SBA Express working capital loans are an option you may consider.

Sulaiman Abdur-RahmanUpdated October 31, 2023

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.

Maryland has about 635,000 small business owners who can apply for small business grants. Submitting an application and competing for Maryland small business grants can help you grow your small or medium-sized enterprise in the Old Line State.Maryland’s economy has a gross domestic product of $470.2 billion as of 2022. That’s the 17th largest GDP in the United States out of the 50 states and the District of Columbia. Small businesses contribute to the nation’s economy.Small and medium-sized firms exported about $5 billion worth of goods from Maryland in 2021, which ranks 24th in the nation out of the 50 states and Washington, D.C., according to the most recent U.S. Census Bureau export data.Below we highlight some of the top small business grants in Maryland that you can explore.

Grants for Small Businesses in Maryland

If you’re looking for small business grants in Maryland, here are some potential options to consider:

Partnership for Workforce Quality (PWQ) Grants

Program description: The PWQ program provides eligible small and mid-sized manufacturing and technology companies with matching grants to train employees.
Incentive: Receive matching grants of between $10K and $200K to implement a workforce training project that bolsters the skills of your employees.
General requirements: Here are some of the general requirements for this grant:
- Be a Maryland-based employer
- Have at least 10 full-time employees
- Be current on your state tax obligations and not in default with any Maryland Department of Commerce program
- Priority will be given to manufacturing and technology companies
How to apply: Contact your Maryland Department of Commerce regional representative to apply for PWQ funding. Small and minority-owned businesses in Maryland with 150 or fewer employees are encouraged to apply.

Build Our Future Grant Pilot Program

Program description: The Build Our Future Grant Pilot Program provides Maryland-based private companies with matching funds to acquire, construct, or improve eligible innovation infrastructure projects, such as wet laboratories or cyber ranges.
Incentive: Receive up to $2 million in a fiscal year and use the funds to support innovation in select industries ranging from advanced manufacturing to sensors and robotics.
General requirements: Here are some of the general requirements for this grant:
- Be a Maryland-based company in good standing with the state
- Propose an infrastructure project that advances innovation and growth in an eligible technology sector
- Demonstrate an ability to cover the full estimated costs of the innovation infrastructure project
- For a grant award exceeding $1 million and up to $2 million, a grantee shall provide matching funds that are at least 400% of the grant amount
How to apply: You can submit your Build Our Future Grant Pilot Program phase 1 application to the Maryland Department of Commerce via email.

Cannabis Business Assistance Fund

Program description: The Cannabis Business Assistance Fund can reimburse some of your out-of-pocket expenses when filling out and submitting an application for a Social Equity Cannabis Business License in Maryland.
Incentive: Receive up to $5,000 in reimbursement for hiring professional advisors that can help you apply for a cannabis business license in the Old Line State.
General requirements: Here are some of the general requirements for this grant:
- Be a Social Equity applicant as determined by Maryland’s Office of Social Equity
- Be an existing small business in good standing with the state of Maryland
- Have 50 or fewer employees per license
- Business must be at least 51% owned by individuals whose personal net worth does not exceed $1.7 million
- Complete and submit a Social Equity Cannabis Business License application
How to apply: Apply online when the Cannabis Business Assistance Fund application portal opens.

ExportMD Program

Program description: The ExportMD Program can reimburse some of your international marketing expenses if you own and operate an eligible Maryland small business.
Incentive: Receive up to $5,000 in reimbursement for eligible business expenses. The grant can reimburse a variety of expenses, such as the costs of producing international marketing materials or participating in an overseas trade mission.
General requirements: Here are some of the general requirements for this grant:
- Be an established Maryland business in operation for at least 12 months
- Be in good standing with the Maryland Department of Assessments and Taxation
- Meet the federal definition of small business for your industry
- Recipients of the ExportMD grant in the last year are not eligible
How to apply: Contact the Maryland Department of Commerce if you’re interested in the ExportMD Program.

Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) Grants

Program description: MARBIDCO offers several grant incentive programs for farm, forestry, and seafood businesses, including the Maryland Urban Agriculture Commercial Lending Incentive Grant (MUACLIG).
Incentive: Eligible urban farmers can receive up to $15,000 for equipment and working capital and up to $35,000 for real estate purchases under this program.
General requirements: Here are some of the general requirements for this grant:
- Operate a farming business in an urban area as defined by the U.S. Census Bureau and any incorporated municipality recognized by the state of Maryland
- Have 10 or fewer years of commercial farming experience or a net worth less than $300,000
- Propose an urban farming project that involves eligible business activities, such as the purchase of farm tools, equipment, irrigation systems, and real estate
- Your urban farming project must be funded partially by commercial lender funds to be eligible for a MUACLIG award.
How to apply: You can download applications on the MARBIDCO website for any available grant programs.

Maryland Manufacturing 4.0 Grant Program

Program description: The Maryland Manufacturing 4.0 grant program provides matching funds to small and mid-sized Maryland manufacturers to adopt new technologies and digital business practices.
Incentive: Eligible manufacturers can receive $25K to $500K in matching grants for the purpose of implementing a proposed modernization project.
General requirements: Here are some of the general requirements for this grant:
- Be an existing business in good standing with the state of Maryland
- Company has operated for at least three years
- Be a manufacturing sector employer under the North American Industry Classification System (NAICS)
- Have between three and 250 total full-time employees
- Be in good standing with federal Occupational Safety and Health Administration and Maryland Occupational Safety and Health regulations
- Demonstrate an ability to implement a proposed modernization project
- Adopt Industry 4.0-related technologies
- Demonstrate your ability to meet the matching funds requirement
How to apply: Download the Maryland Manufacturing 4.0 Grant application on the state Department of Commerce website and apply during an open grant period.

Who Provides Small Business Grants in Maryland?

State government agencies, including the Maryland Department of Commerce, offer a variety of small business grants in the Old Line State.You can compare small business grants in Maryland with similar programs in other states, such as:

Do You Have to Pay Back a Small Business Grant?

A small business grant typically comes with terms and conditions, and you may be responsible for paying back the grant if you violate those terms. In general, small and midsized business owners are not required to pay back an SMB grant absent any violations.You typically have to sign a funding agreement to accept a small business grant. As mentioned above, the grant may come with certain conditions. Using the grant for an illegitimate purpose may violate the agreement and require business owners to pay back the grant.Small business grants may require you to spend the money by a certain date. You may also have to provide proof of payment and a written statement detailing how you’ve spent the grant.Recommended: How To Get a Small Business Grant

Who Is Eligible for Small Business Grants in Maryland?

Local business owners or operators of an enterprise with fewer than 500 employees may be eligible for small business grants in Maryland.The U.S. Small Business Administration’s Office of Advocacy generally defines a small business as an independent business having fewer than 500 employees. A small business, including individuals with freelancing business ideas, may be eligible for small business grants.

What Industries Does Maryland Support With Grants?

Maryland offers a variety of grants supporting the following industries and technology sectors:

Advanced manufacturing
Aerospace
Agriculture
Artificial intelligence
Biotechnology
Blue technology
Cybersecurity
Defense
Energy and sustainability
Life sciences
Manufacturing
Quantum
Sensors and robotics

Maryland Resources for SMB Owners Looking for Funding

Here are some resources for small and medium-sized businesses looking for funding in the Old Line State:

Maryland Small Business Development Center (SBDC)

The Maryland SBDC is a statewide program that can provide Maryland’s small business owners with the following services:

Access to customized research reports
Individualized business consulting at no cost
Online and in-person training events for Maryland small business owners

SBA District Office in Maryland

The U.S. Small Business Administration (SBA) is a federal agency that provides resources and support to small business owners. The SBA has two district offices in Maryland:

SBA Baltimore District Office. This SBA district serves Baltimore City and all Maryland Counties, except for Montgomery and Prince George’s counties. It’s based in Baltimore.
SBA Washington Metropolitan Area District Office. This SBA district serves the District of Columbia, two counties in Maryland (Montgomery and Prince George’s), and three counties in Northern Virginia (Arlington, Fairfax, and Loudoun, plus the cities of Alexandria, Fairfax, and Falls Church). It’s based in Washington, D.C.

Alternative Funding Sources for Small Businesses in Maryland

Here are some alternative funding sources for small businesses in Maryland:

Maryland State Small Business Credit Initiative (SSBCI)

Maryland’s SSBCI is a federally funded program for small business owners in the Old Line State. Federal law — the American Rescue Plan Act of 2021 — allocates more than $198 million to Maryland’s State Small Business Credit Initiative program.Here’s how Maryland plans to use the SSBCI funding:

Neighborhood Business Works Loan Participation Program — $86.4 million. This small business loans program can provide working capital and owner-occupied real estate acquisition or renovation to Maryland small businesses, including those owned by socially and economically disadvantaged individuals.
Maryland Small Business Development Financing Authority (MSBDFA) Equity Participation Investment Program Loan — $33 million. This program can provide working capital or equipment financing to Maryland small businesses owned by socially and economically disadvantaged individuals.
Neighborhood Business Works Venture Debt — $17 million. This program can provide venture debt financing to Maryland-based startups.
Seeds Funds Equity — $15 million. This program can provide Maryland startups with direct equity capital.
Venture Equity Fund — $13 million. This program can provide venture capital to early-stage tech companies based in Maryland.
Social Impact Funds — $12 million. This program can provide direct equity capital to technology startups owned by socially and economically disadvantaged individuals.
MSBDFA Equity Participation Investment Program Equity — $12 million. This program can provide Maryland small businesses with equity investments for expansion and growth.
Venture Capital Limited Partnership Equity — $10 million. This program supports early-stage venture capital funding.

Maryland Microloan Lenders

Community-based nonprofits may offer microloans of up to $50,000 to small business owners in Maryland, including microloans for women-owned small businesses. In general, microloans can range from $500 to $50K and may be available to startups.

Maryland SMB Loans from Private Lenders

Banks, credit unions, and private lenders may offer different types of small business loans to Maryland business owners.Here are some of the funding products you may consider depending on your needs:

Find Small Business Financing With Lantern

If you need funding to grow your business, Lantern by SoFi can help. Just fill out a simple form and find the right financing for your business.Lantern can help you find fast funding for your small or medium-sized enterprise.

Frequently Asked Questions

How do you get a small business grant in Maryland?

How hard is it to get a business loan in Maryland?

What is the easiest SBA loan to get approved for?

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About the Author

Sulaiman Abdur-Rahman

Sulaiman Abdur-Rahman writes about personal loans, auto loans, student loans, and other personal finance topics for Lantern. He’s the recipient of more than 10 journalism awards and served as a New Jersey Society of Professional Journalists board member. An alumnus of the Philadelphia-based Temple University, Abdur-Rahman is a strong advocate of the First Amendment and freedom of speech.

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