Business Services

Economic Development Fund Grant/Loan Program

Provides flexible, low-cost financing for expanding and newly located county businesses that demonstrate a significant economic impact. The EDF is strategically used to attract private sector capital investment and the creation of high-paying jobs.

• EDF assistance is typically in the form of low interest loans; loans often convert to grants based on businesses attaining certain performance measures.
• Loans generally range between $5,000 - $100,000; higher amounts are possible for businesses involved in large expansion projects.
• Job creation and capital investment are the primary factors affecting the amount of EDF assistance available for expanding businesses.
• Funds may be used to help finance any aspect of expansion project.
• Complements and leverages existing state and private sector financing programs.

Montgomery County Technology Growth Program

Provides gap financing for emerging technology-based companies with innovative products or services. The TGP is used as a tool to create jobs in high-technology fields, leverage private investment in Montgomery County businesses, nurture technology development entrepreneurship and facilitate the construction and improvements of technology facilities. Disbursements from the fund typically range between $10,000- $100,000.

The TGP assistance is typically in the form of a "no-risk" grant that converts to a loan if at any time within five years from the grant disbursement date the applicant generates pre-negotiated annual net revenues or obtains a pre-negotiated level of aggregate equity financing. The grant remains a grant if the applicant fails to meet these predetermined performance measures.

Small Business Revolving Loan Program

Provides financing for business development/expansion of small businesses located in the county. To qualify for the program, the small businesses in the county must have gross revenues of less than $5,000,000 annually and have less than 75 employees. The program facilitates business development through direct loans and participation in loans made by banks, development corporations and other lenders. The program intends to leverage private sector as well as other governmental funds and the average size of the program assistance is $5,000-$100,000, with maximum terms up to five years and collateral is required.