Small Business Services 

• Available only to companies located in Montgomery County
• For small businesses with annual revenues of $250,000 or less and five or fewer employees
• Business principals must be at least 18-years-old and reside within Montgomery County
• Maximum amount of $15,000 with terms of three years or less
• Loan must be used to start, expand or stabilize a business
• Special consideration given to women- and minority-owned businesses

The Microenterprise Program works with entrepreneurs that traditional lending institutions consider too small or risky.  The department expects the program to increase the number of persons able to start and maintain businesses in the county.  DED’s Microenterprise Program has four goals:

• develop a strategy for business development and job creation for those traditionally excluded from the economic mainstream;
• build the personal, business, and credit management skills needed for business ownership and create the opportunity for new entrepreneurs to have a long-term attachment to the economy;
• seek economic self-sufficiency of women, ethnic minorities, and other disadvantaged individuals to eliminate barriers for business creation and access to capital; and
• assist microenterprises to develop successful lending track records to enhance their opportunities for traditional bank loans.

DED will use its resources to develop the capacity of micro-enterprises to repay loans so they may then qualify for loans through traditional lending sources. Participants will work with various resource partners, including the Maryland Small Business Development Center Network, U.S. Small Business Administration, Latino Economic Development Corporation, various chambers of commerce and SCORE.

For more information, call 240-777-2035 or e-mail the department at ded.info@montgomerycountymd.gov.

You may download an application here. (requires Adobe Acrobat reader)