LOCAL REVOLVING LOAN PROGRAM
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.
The purpose of this program is to enhance the EDC's availability to 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 fund.
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 Maryland Department of Commerce.
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
410-546-1900
410-546-9718 (fax)
The application along with other important information may be accessed by clicking on the link below.
