What Are the Repayment Restrictions for Business Loans in Baltimore County?

Baltimore County offers a variety of funding options to businesses, including loans, loan guarantees, and tax credits. The county can provide funds to any commercial enterprise, and the creditor must file a claim with the court within three years of the debt's maturity. If someone claims you owe them money and you believe the debt is more than three years old, you may be able to use the statute of limitations as a defense. The county also offers the PACE program, which provides loans for renewable and energy-efficient projects for commercial, industrial, agricultural, hospitality, retail, and multifamily properties.

These loans are provided by private lenders and are repaid as a long-term surcharge on the real estate tax bill. The surcharge remains with the establishment if ownership changes. The federal Direct Subsidized Loan is available to cover financial needs after other resources have been taken into account. There is a maximum annual loan limit that may restrict how much you can borrow.

You can set your interest rate when you apply or choose a variable rate. The interest rate must be fixed at least 10 business days before the loan closes. Baltimore County is a Foreign Trade Zone (FTZ) designated for companies involved in international trade. Business Growth Loans are direct loans or loan guarantees for new or expanding industrial or commercial enterprises.

The county also offers a variety of direct funding programs and tax credits to help businesses grow, encourage investment, and create jobs. In addition, they can help you access state, federal, and private funding for new and expanding businesses. The list of financial incentives for Maryland businesses can be filtered to fit your specific needs. The program provides federal tax incentives for investments in real estate projects and for commercial operations in designated communities.

In partnership with Baltimore County, qualified institutions can create rental assistance programs for businesses moving to their designated area. Taxes and insurance can be included in the mortgage payment (called “escrow”), if required by the lender in the mortgage documents. The Boost Loan Fund program provides access to capital to specific businesses, including small businesses owned by minorities, women, and veterans in the Baltimore metropolitan area. Family businesses and national retail chains are neighbors and offer shopping and entertainment experiences throughout the county.

You can search for a specific address or download a map to see if your company's location is within a designated area of Baltimore County.

Laurie Mcclafferty
Laurie Mcclafferty

Lifelong twitter junkie. Typical internet evangelist. Typical zombie guru. General burrito trailblazer. Infuriatingly humble coffee practitioner. Proud twitter geek.

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