The Working Capital Loan Fund provides loans to early stage technology-oriented companies located in the state of Maryland. Loans of between $15,000 and $50,000 are available to be used for working capital in order to assist a company with expansion, market entry, or other initiatives.
Terms and Fees:
Rates are at or below market rate.
A nonrefundable application fee of $150 is due at the time of application submittal.
Loan term is normally 3 to 5 years with a minimum term of 6 months.
Personal guarantees by all principals in the company satisfactory to TEDCO as well as liens on company assets are required.
Companies are required to submit a letter of support from a local economic development official, an SBDC representative, an incubator manager, or a professional consultant.
An administrative fee of .5% is required at the time of closing.
Application Process:
Applications may submitted on-line at www.tedcofunds.org. Completed applications received on the first of the month will be reviewed within 30 days.
