Maryland Economic Adjustment Fund (MEAF)

About this funding opportunity

Turn on more accessible mode

Turn off more accessible mode

Sign In

Menu Menu

Maryland.gov State Directory State Agencies Online Services About Commerce Financial Incentives News, Events & Documents Press Room Events Calendar Document Library MDBIZ News Blog Why Maryland

Press Room

Events Calendar

Document Library

MDBIZ News Blog Maryland Economic Adjustment Fund (MEAF)

Page Content

MEAF provides loans of up to $150,000 for small and underserved businesses with fewer than

50 employees.

_Note: New applications for the program are presently being accepted. The submission of an application is not as assurance of approval._ BENEFITS

MEAF enables small businesses to upgrade or modernize operations, develop or expand commercial applications for technology or enter into and compete in new or different markets. Eligible businesses include manufacturers, wholesalers, retail, technology firms, service companies and skilled trades. Funds can be used for working capital, equipment, building renovation, real estate acquisition and site improvements. Funding assistance through MEAF is available to small businesses in all regions of the state. ELIGIBILITY

Applicants must demonstrate credit worthiness, ability to repay the obligation, and an inability to qualify for loans from traditional lending sources. Commerce will review and process each application using standard commercial credit criteria to determine whether it meets the Program’s financial and other requirements for loan approval. Commerce will recommend approval of financing for the projects deemed to present the best chance of succeeding. APPLY

Visit this page to learn about the availability of funds. Applications must be submitted to the Maryland Department of Commerce. The following additional information will be required for the Department to evaluate your application: Business Plan, with 3 year's projections, cost budget and sources & uses of funds. Current Personal Financial Statement (request form). A listing of all owners and percentages of ownership. Resume of principal owner(s). Personal Federal Tax Returns with all Schedules (most recent two years). Business Federal Tax Returns with all Schedules (most recent two years). Explain the amount of personal or business funds to be contributed to the project. Explain the type of collateral to be provided to secure the loan. CONTACT

For more information about the program, eligibility details and how to obtain an application, send your inquiry to arp.meafloanfund@maryland.gov. A member of the Commerce team will respond to your inquiry in a timely manner or contact:

Celester A. Hall

Program Manager, Office of Finance Programs

Maryland Department of Commerce

410-767-6356

Page Image

Twitter Widget Iframe

Using the translate feature with screen reading software requires having the synthesizer for the foreign language you request already installed on your screen reader. NVDA users should use the e-Speak NG synthesizer. JAWS users should download and install Vocalizer Expressive voices. VoiceOver and Narrator users should download the appropriate voices directly from Apple and Microsoft. To view the disclaimer, press down arrow until you hear the words “view disclaimer” and press enter. View Disclaimer Spanish Chinese - Simplified Chinese - Traditional Afrikaans Albanian - shqiptar Amharic - አማርኛ Arabic - عربى Armenian -Հայերէն Azerbaijani - Azərbaycan Basque - Euskal Belarusian -беларускі Bengali - বাঙালি Bosnian - bBosanski Bulgarian - български Catalan - Català Cebuano Chichewa Corsican - Corsu Croatian - hrvatski Czech - čeština Danish - dansk Dutch - Nederlands Esperanto Estonian - Eesti keel Filipino Finnish - Suomalainen French - français Frisian - Frysk Galician - Galego Georgian - ქართული German - Deutsche Greek - Ελληνικά Gujarati - ગુજરાતી Haitian Creole - Kreyòl Ayisyen Hausa Hawaiian - ʻŌlelo Hawaiʻi Hebrew - עִברִית Hindi - हिंदी Hmong - Hmoob Hungarian - Magyar Icelandic - Íslensku Igbo Indonesian -…

Topic areas: Public Policy and Governance, Workforce Development, Social Innovation and Community Development.

Funding amount

This grant provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

Maryland Economic Adjustment Fund (MEAF) is administered by Maryland Department of Commerce (MD Commerce), listed via Maryland Department of Commerce.