Tri-County Council for Western Maryland is offering qualified businesses located in Allegany, Garrett, and Washington counties low-interest financing through Summit Financing Solutions' Revolving Loan Fund Program.
Apply now through April 30, 2024.
Loan information:
- Interest rates of 5% for the first five years
- Loan amounts from $10,000 to $500,000
- Eligible purposes include: business acquisition, owner occupied commercial real estate and equipment purchases, and business start-up costs
- Terms up to 15 years
- Loan under $25,000, quick turnaround time & flexible terms
Businesses must meet the following criteria to be eligible:
- The business must be a business entity in good standing with the State of Maryland
- Principal place of business must be in Allegany, Garrett, or Washington County
By securing a loan through Summit's program, your business is eligible to apply for a technical assistance grant up to $7,500, while funds are available. Grants can be used to provide professional services such as website and social media development, industry specific training, and financial consulting.
For additional information, please contact Chris Funk, Business Development Loan Officer, at 301.689.1300 or [email protected].
