Maryland offers a variety of benefits for Small, Minority & Women-Owned businesses. Learn how to become a certified Minority Business Enterprise.
Find Funding for Small, Minority & Women-Owned Businesses
Maryland offers a variety of programs to support small, minority and women-owned businesses. Here are some of those programs:
- Small, Minority and Women-Owned Business – Video Lottery Terminal Fund: Targeted to help these business owners in the areas surrounding Maryland’s six casinos.
- Maryland Small Business Development Financing Authority (MSBDFA): Offers a variety of financing programs to promote the viability and expansion of economically and socially disadvantaged entrepreneur owned businesses.
- Minority Business Pre-Seed Fund (MBPF): Intended to address the needs of minority entrepreneurs in Maryland and administered by TEDCO. If you have a viable business opportunity involving a technology-based idea, this program will make investments up to $40,000 towards developing it into a product to be tested with potential users.
- The Neighborhood BusinessWorks loan program provides flexible financing to small businesses and nonprofits who are located in locally designated neighborhood revitalization areas throughout Maryland.
- The Microenterprise Loan Program creates new opportunities for small business development in Maryland by providing entrepreneurs with flexible funding for start-ups and expansions in designated Sustainable Communities and Priority Funding Areas throughout the State.
Become a Certified Minority Business Enterprise
The Department of Transportation’s Office of Minority Business Enterprise is responsible for the certification process for MBEs. Once you have completed this process you are eligible for programs like the ones listed below:
- Minority Business Enterprise (MBE): This program encourages participation in state contracting and procurement opportunities for socially- and economically-disadvantaged small business owners.
- Governor’s Office of Small, Minority & Women Business Affairs: Helps coordinate small business resources for women, minority and small businesses to assist in both public and private sector competition.