Economic Development Fund
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
- 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
- Job creation and capital investment are the primary factors
affecting the amount of EDF assistance available for expanding
- Funds may be used to help finance any aspect of expansion
- Complements and leverages existing state and private sector
Montgomery County Technology
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
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.