Loan Program

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 Economic Development Opportunity Fund 

The Economic Development Opportunity Fund provides funding by complementing traditional lending programs. This fund: 
  • Has a maximum loan amount of $50,000;
  • Has a risk-based interest rate;
  • Aids with equipment purchases and land or building improvements;
  • Also provides working capital for business operations.
COVID Application