Maryland Small Business Development Financing Authority (MSBDFA)

Maryland Small Business Development Financing Authority (MSBDFA) is sponsored by Maryland Department of Commerce. Promotes the viability and expansion of small businesses in Maryland, focusing on those owned by economically and socially disadvantaged entrepreneurs.

Maryland Business Funding | Small Business | Maryland Department of Commerce Turn on more accessible mode Turn off more accessible mode Our Alert Agency Alert will go here Maryland Small Business Development Financing Authority (MSBDFA) programs-for-businesses > Maryland-Small-Business-Development-Financing-Authority-(MSBDFA) Small Business Development Financing Authority Meridian Management Group SSCBCI Technical Assistance Maryland Small Business Development Financing Authority (MSBDFA) ​ MSBDFA promotes the viability and expansion of all small businesses in Maryland.

It has a focus on businesses owned by economically and socially disadvantaged entrepreneurs. MSBDFA uses include working capital, supplies and materials, machinery and equipment acquisition, acquisition of real estate, and leasehold improvements.

Other uses include the purchase of an existing business or obtaining bid, financing of contracts, which receive the majority of their funding from federal, state, local government, or regulated utilities. MSBDFA can also provide bid, payment, and performance bid, payment, and surety bonds.

SSBCI Funding Available through MSBDFA Maryland was approved by the U.S. Treasury to administer up to $198 million in federal assistance, including subsequent performance-based funds, through the State Small Business Credit Initiative (SSBCI). The funding is distributed through various existing business lending programs, including MSBDFA, which received $45 million. See all Maryland SSBCI programs here.

The University of Maryland Small Business Development Center is now taking requests for SSBCI Technical Assistance . Please click here for more information or contact Eric Marshall at [email protected] . A private contractor manages the MSBDFA components, and the Maryland Department of Commerce provides financing for the approved small businesses.

Programs include: Contract Financing Program E quity Participation Program L ong Term Guaranty Program State Small Business Credit Initiative MSBDFA clients include all small businesses unable to obtain adequate business financing on reasonable terms through normal financing channels.

It is highly recommended that prior to applying for MSBDFA funding to visit the Meridian Management Group website to review the full MSBDFA guidelines, qualifications, and frequently asked questions. To apply to receive funding through MSBDFA, please complete this online application . NOTE : Before completing an application, users are required to create an account.

Please click “Register” on the online application webpage to create an account before proceeding to complete the application. After you create an account, you will receive an email with further instructions to apply.

For assistance with the application form, please contact: Meridian Management Group, Inc. Electronic Funds Transfer (EFT) Program The state of Maryland requires all contractors to be registered to receive state payments by electronic funds transfer (EFT) before any contract exceeding $200,000 is approved by the Maryland Board of Public Works. Additionally, all vendors are encouraged to register to be paid electronically.

The State has the ability to process vendor payments electronically using the CCD and CCD+ and CTX payment formats. The CCD+ payment format will contain summarized information and will not provide details concerning each invoice amount included in the check total. However, vendors may obtain the detailed information on an electronic payment via the One Stop Vendor Payment Inquiry System.

The CTX payment format will contain the total payment amount and details concerning each invoice amount included in the check total. Vendors must contact their bank in order to receive the CTX format, and the depositing bank may charge a fee for this format. Vendors need to discuss potential charges with their bank.

If you want to receive all payments from the State using the Electronic Funds Transfer program, complete and submit form GADX-10 (fax or mail.) General Accounting Division For general information about MSBDFA contact: Randy Croxton, Chief Investment Officer Meridian Management Group, Inc. Small Business Development Financing Authority​ page to see information about ​MSBDFA meetings.