Loan Programs

Click here to download the loan application.

The Revitalization Area Improvement Loan

In addition to the above tax credits, businesses that locate in one of the county’s enterprise zones can take advantage of the Revitalization Area Improvement Loan program. This loan program provides funds for façade improvements by business owners and tenants for companies facing the U.S. Route 40 corridor in Harford County. These revitalization loans:
  • Offer 0% interest to companies that use local businesses and contractors for their improvement and renovation efforts. Businesses that use non-local contractors and companies would receive a 1.5% interest rate; 
  • Assist in financing projects that improve the exterior of the building, as well as a percentage of specified interior improvements with prior approval;
  • Are used for buildings that face U.S. Route 40;
  • Provide up to $50,000 through a term of three to five years. 

The Entrepreneurial Growth Loan

The Entrepreneurial Growth Loan provides a bridge between a growing business’s initial investment and traditional financing. The program is designed for businesses that have passed the start-up phase and need assistance to be eligible for loans from banks and credit unions. Details of the loan:
  • Maximum amount of $50,000 for a loan period of up to five years;
  • Risk-based interest rate; if the business adds new jobs during the loan’s life, it may be eligible for a .25% rate decrease annually.

The Tech Attraction Fund

This loan program provides financial incentives to growing and stable technology companies or tech catalyst organizations to relocate to Harford County. With proximity to Aberdeen Proving Ground, the Port of Baltimore, Washington D.C., and the I-95 corridor, Harford County is ideal for technology companies to grow and thrive. Details of the fund: 
  • Offers a 0% interest rate if the company commits to staying in Harford County for a minimum of three years;
  • Requires a minimum of three full-time employees;
  • Has no closing costs at settlement;
  • Grants up to $50,000 over a term of up to five years. The term of fund disbursement cannot exceed the length of the company’s lease.

The Economic Development Opportunity Fund 

The Economic Development Opportunity Fund provides funding for new equipment and operations by complementing traditional lending programs. This fund: 
  • Has a maximum loan amount of $200,000;
  • Has a risk-based interest rate;
  • Aids with equipment purchases and land or building improvements.