Top Small Business Grants in Maryland
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Grants for Small Businesses in Maryland
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.
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?
Arizona small business grants California small business grants Colorado small business grants Florida small business grants Georgia small business grants Illinois small business grants Indiana small business grants Michigan small business grants NC small business grants New York small business grants NJ small business grants Ohio small business grants Pennsylvania small business grants Texas small business grants Wisconsin small business grants
Do You Have to Pay Back a Small Business Grant?
Who Is Eligible for Small Business Grants in Maryland?
What Industries Does Maryland Support With Grants?
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
Maryland Small Business Development Center (SBDC)
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
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
Maryland State Small Business Credit Initiative (SSBCI)
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.
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