The Somerset County Economic Development Commission operates a local Revolving Loan Program which we call the SMALL BUSINESS EXPANSION PROGRAM (SBEP).
The SBEP was established in 1984 to assist local businesses to obtain funding for their expansion needs.
It is the goal, this year of the Somerset County EDC to begin a review of the present program to enhance its availability to more of our local businesses who can benefit from the fund's new found monetary resources.
To assist in the review of the potential loans, and to help in the management
of the SBEP, the Somerset County EDC has formed a Somerset County Banker's
Taskforce that will add professional financial guidance and support to the
Financial guidance and assistance will also be available from the Small Business Development Center of the Salisbury University, The Rural Development Center of the University of Maryland Eastern Shore (UMES) and through the various financial sources of the state's programs provided through the Department of Business and Economic Development (DBED).
The Somerset County EDC’s Revolving Loan Fund is administered jointly with Maryland Capital Enterprise in Salisbury.
Maryland Capital Enterprises, Inc.
P.O. Box 1844
Salisbury MD 21802
The application along with other important information may be accessed by clicking on the link below.