Need funding for your business? Maryland has resources to help you find funding.
There are two primary types of financing: equity financing and debt financing. Unfortunately, there is no such thing as "free" government or grant money to help you start your business. Family members, friends, and former associates are all potential sources, especially when capital requirements are smaller.
Most small or growth-stage businesses use limited equity financing. As with debt financing, additional equity often comes from non-professional investors such as friends, relatives, employees, customers, or industry colleagues. However, the most common source of professional equity funding comes from venture capitalists. These are institutional risk-takers and may be groups of wealthy individuals, government-assisted sources, or major financial institutions. Most specialize in one or a few closely related industries.
If you are a startup or early-stage company looking to make your next move, TEDCO invests across the full range of industry sectors.
TEDCO is an independent organization that strives to be Maryland’s lead source for entrepreneurial business assistance and seed funding for the development of startup companies in Maryland’s innovation economy.
There are many private sources for debt financing: banks, savings and loans, and commercial finance companies. In recent years, state and local governments have also developed many programs to encourage the growth of small businesses in recognition of their positive effects on the economy. You should always check with your local economic development agency to see if they have local programs that you can use.
Understanding the Funding Opportunities
As you plan your business, understanding state funding resources, like grants and tax credits, may be helpful for you. Check out Maryland's database of financial incentives for business.