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Financial Resources


Montgomery County Economic Development Grant and Loan Program

Financial assistance to private employers who retain jobs or stimulate new job creation in Montgomery County.

Priority is given to the following businesses:

  • high technology companies
  • manufacturing companies
  • businesses located in urban revitalization areas, and
  • other private employers providing the greatest public benefits.

Amount

The typical amount of EDF assistance ranges from $5,000 to $100,000. Higher amounts are possible for businesses involved in large projects.

Evaluation Criteria

Projected employment growth and capital investment, or other positive economic impacts that the County's assistance will facilitate.

  • Financial history and projections, including balance sheets, income statements, and cash flow statements.
  • Background of the company and its management.
  • Present and future market outlook for the business.

The applications will be further evaluated using “priority” criteria to arrive at a funding decision.

Priority will be given to:

  • cases where the private employer's business will create significant employment growth by creating new jobs within 1 to 3 years of funding.
  • cases that will result in significant capital investment in the county.
  • assistance that will materially improve the County's economy and advance the County's economic development objectives and strategies.
  • cases where County funding complements and leverages existing state and private sector funding programs.

Montgomery County MOVE Program

The MOVE program is an innovative approach intended to attract new businesses to Montgomery County, Maryland. Eligible new businesses will receive a one-time grant upon signing a commercial lease within the county.

Businesses new to the county that lease up to 10,000 square feet of Class A or B office space in the county may receive a grant of $8/sf. All industries (except retail and restaurant) and all leases up to 10,000 square feet are eligible.

Participation in the program involves 3 simple steps:

  1. Sign a 3 year (minimum) commercial lease.
  2. Complete an application.
  3. Mail the completed application along with the supporting documents to:

    Montgomery County Department of Finance
    101 Monroe Street, Suite 1500
    Rockville, MD 20850

Supporting documentation includes a copy of the signed lease and evidence of occupancy (i.e., a utility bill). Please see the application for a complete list of required documents.

Applications must be received within 90 days of lease signing.

Once an application is reviewed and approved, the applicant will receive a grant based on the square feet leased. A pre-qualification letter can be issued upon request.

What People Are Saying:

“Being in one of the most educated, commuter-friendly and culturally rich business centers of Montgomery County will greatly accelerate the continuing growth and success of L-Soft. As a pioneer in the permission email industry, L-Soft is pleased to be the first company in the county’s innovative MOVE program, and we look forward to many more decades of success and strong relationships with our current and future customers, in the National Capital area and around the world.”

— Eric Thomas,
Founder and CEO of L-Soft and inventor of LISTSERV

 

“This rent subsidy will greatly enhance Montgomery County's reputation as a pro-business environment. Office rents are typically one of the highest expenses on a company's financial statement and the proposed subsidy represents a significant reduction in start-up and relocation expenses. The workplace has now become both a hiring and retention tool for employers. As these employers seek to attract the best and brightest employees while also reigning in real estate costs, this subsidy will create a competitive advantage for Montgomery County, not only as a place to work, but also to live.”

—Scott C. Randolph,
Senior Vice President, TRANSWESTERN


Montgomery County Small Business Revolving Loan Program

Direct loans or participation in loans made by other financial institutions to small businesses in Montgomery County.

  • This loan program is targeted at Montgomery County-based small businesses with gross revenues of less than $5,000,000 annually and fewer than 75 employees. ‚Ä®Eligible businesses must also meet one of these primary tests:
    • Program funds must assist the expansion of the business, or
    • Program funds must help retain and stabilize the business.

Amount

  • Program assistance typically ranges from $5,000 to $100,000, with maximum terms up to 5 years. Collateral and principal's personal guarantee are required.

Evaluation Criteria

  • Program applicants will be rated on these elements:
  • Financial history (if applicable, including personal financial/credit history) and projections, including balance sheets, income statements, cash flow statements, and bank statements (if applicable).
  • Background, experience, and financial commitment of the company principal(s) and key management personnel.
  • Statement of the amount, timing, and projected use of the County’s assistance and any co-venture capital.
  • Projected employment growth, and/or other positive economic impacts that the County's assistance will facilitate.
  • Ability of the recipient business to generate sufficient income to service the requested loan.
  • The applications will be further evaluated using “priority” criteria to arrive at a funding decision. ‚Ä®Priority will be given to:
  • assistance that will materially improve the County’s economy and advance the County’s economic development objectives and strategies.
  • cases where the County’s assistance will function as a catalyst to the company’s subsequent capitalization.
  • cases where the business will create significant employment growth by creating new jobs within 3 to 5 years of funding.
  • businesses for whom private/bank financing is not available at the time of application.

Equity Investment Programs


Commercial Lending*

*Commercial lending information is provided as a courtesy and does not imply endorsement by Montgomery County Government.

 

 

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