Financial Services

The Harford County Department of Economic Development makes the connections business leaders need to be successful. We offer financial support to businesses of all sizes and works closely with the business community to obtain traditional financing, venture capital, and local, state, and federal loans.

County-Level Support

• Workforce Technical Training Grant: Harford County will provide matching funds to its businesses to accelerate the delivery of technical training to existing employees that will contribute to expand or improve production capabilities.
• Economic Development Opportunity Fund: This loan program provides funding to small businesses in Harford County to support their overall growth through capital investment, job creation and retention.
• Tourism Funding Program: Harford County’s Tourism Funding Program provides grants to local businesses, organizations, and events that promote tourism, attract visitors, and support the county’s economic development goals.
• Edgewood Facade Improvement Program (E-FIP): E-FIP will fund renovation and/or new construction projects to improve business (non-residential) exteriors along designated stretches of U.S. Route 40 (Pulaski Highway) and MD-755 (Edgewood Road) located in the Edgewood Sustainable Community Area overlay. This program is now closed.

State-Level Support

• Maryland Department of Commerce Incentives: State-level loans, direct grants, and investment programs for businesses that expand, create jobs, or innovate.
• The Maryland Office of Minority Business Enterprise: Specialized financing and resources for underserved entrepreneurs.
• Maryland's State Small Business Credit Initiative (SSBCI) Program: Funds will be used to support businesses with limited opportunities for growth. Maryland's statewide SSBCI initiatives will target communities and areas with a high concentration of small, micro, and Socially and Economically Disadvantaged Individual (SEDI) businesses.

Federal-Level Support

• SBA Loans (7(a), 504, Microloans): Delivered via approved local lenders, providing capital for working capital, equipment, or real estate. SBA Maryland
• Economic Development Administration (EDA) Funds & Revolving Loan Funds (RLF): Gap financing and infrastructure support for businesses unable to access conventional credit.
• USDA Rural Business Programs: Grants and loans for rural areas, including agriculture, manufacturing, and infrastructure.

Local Lenders & CDFIs

• BGE SEED Program: The SEED Program will allow qualifying businesses to invest more of their resources in their own operations by reducing BGE’s charges for service extensions and temporarily decreasing energy distribution charges.
• Community Development Financial Institutions (CDFIs): Flexible microloans and gap financing for underserved founders; SBDC can provide local connections.
• Regional Banks & Credit Unions: Make sure to connect with local banks and credit unions to see what support they provide.

Location-Based Incentives

• Enterprise Zone Tax Credits: Income and property tax credits for investments and job creation in designated zones.
• Opportunity Zones: Potential capital gains benefits for qualifying investments (click here for Maryland's map of Opportunity Zones).

Getting Started:

1. Contact us to explore county loans, grants, and location-based opportunities. 
2. Work with Maryland SBDC to prepare loan applications and identify the best combination of funding.
3. Verify eligibility for state, federal, and zone-specific incentives early in your planning process.