The Working Capital Loan Fund has been established by TEDCO to provide loans to early-stage technology-oriented companies located in the State of Maryland. Low-interest loans of between $15,000 and $50,000 are available to qualified applicants to be used for working capital in order to assist a company with expansion, market entry, or product launch. Companies must be beyond the research stage as these loans cannot be used for research and development.
Terms and Fees:
Rates are at or below market rate.
A nonrefundable application fee of $150 is due at the time of application submittal.
Loan term is normally 3 to 5 years with a minimum term of 6 months.
Personal guarantees by all principals in the company satisfactory to TEDCO as well as liens on company assets are required.
Companies are required to submit a letter of support from a local economic development official, an SBDC representative, an incubator manager, or a professional consultant.
An administrative fee of .5% is required at the time of closing.
Application Process:
Click here for a downloadable form. Completed applications and attachments may be submitted online by saving the completed forms in pdf's and emailing them to rmelton@marylandtedco.org, or send completed application and all attachments to: TEDCO Working Capital Loan Program, 5565 Sterrett Place, Suite 214, Columbia, MD 21044, Attention Robbie Melton.
