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Maryland Neighborhood BusinessWorks
General · Maryland Department of Housing and Community Development (DHCD) · MD
Maryland Neighborhood BusinessWorks is a state loan program run by the Maryland Department of Housing and Community Development, offering up to $2 million at a fixed 4% interest rate to small businesses and mixed-use projects in designated Maryland revitalization areas. It is a loan that must be repaid, not a grant, and applicants should check the DHCD website for current funding rounds.
Maryland Neighborhood BusinessWorks is a financing program run by the Maryland Department of Housing and Community Development (DHCD) to support small businesses and mixed-use development projects located within designated Maryland Sustainable Communities or Priority Funding Areas.
Despite being listed under a general funding category, this program is structured as a direct loan, not a cash grant. According to the program's own award amount note, it provides financing up to $2 million at a fixed 4% interest rate. This distinction matters for small-business owners: money received through this program must be repaid over time under agreed loan terms, unlike outright grant funds.
The program is aimed at businesses and development projects that serve a community-revitalization purpose within specific geographic zones set by the state — Maryland Sustainable Communities or Priority Funding Areas. This targeting means the program is not open to businesses anywhere in Maryland, but specifically to those operating in or planning to operate in these designated revitalization areas.
Because awards are described as competitively awarded, not every eligible applicant is guaranteed funding — applications are evaluated against other submissions in the same funding round.
For a small-business owner, this program could be useful as a lower-cost source of capital compared to conventional commercial loans, given the fixed 4% rate, but it is important to understand it is debt financing that must be repaid, not free money. The deadline is listed only as 'check current rounds,' meaning there is no fixed annual deadline and applicants should monitor the DHCD website for open application periods. Given the program summary itself notes that current award amounts, open rounds, and eligibility details should be confirmed directly with the state, applicants should treat the details here as a starting point and verify specifics at the official source before applying.
Who qualifies
How to apply
Questions people ask
Is this a grant or a loan?
It is a direct loan, not a cash grant, despite being categorized as general funding — funds must be repaid.
Do I have to repay the money?
Yes, this is loan financing with a fixed 4% interest rate, so repayment is required.
Who is eligible?
Small businesses and mixed-use development projects located in a Maryland Sustainable Community or Priority Funding Area.
How much funding can I get?
Loans of up to $2 million are available at a fixed 4% interest rate.
What is the application deadline?
There is no fixed deadline listed; applicants should check for current open funding rounds.
Where do I apply?
Applications are handled through the Maryland DHCD website at https://dhcd.maryland.gov/Business/Pages/NBW.aspx.
Who runs this program?
The Maryland Department of Housing and Community Development (DHCD).
Is this available outside Maryland?
No, it is limited to Maryland businesses in designated Sustainable Communities or Priority Funding Areas.
Is the loan amount guaranteed if I apply?
No, awards are competitive, so not all applicants receive funding.
Is the funding taxable?
This is not addressed in the available information; confirm at the official source.
What can the funds be used for?
The program is intended for small businesses and community-serving mixed-use development projects in revitalization areas; confirm specific use restrictions at the source.
Are there location restrictions?
Yes, projects must be located within a Maryland Sustainable Community or Priority Funding Area.
Opportunity number: not published. Source: curated + verified (official state source, 2026). GetFundedUSA is independent and not affiliated with Maryland Department of Housing and Community Development (DHCD); always confirm current deadlines, amounts and eligibility on the sponsor's own page before applying.