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Maryland Department of Commerce

Resource Partners

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Application Completion Assistance, Business Courses, Coaching

Atsouco Saint Louis
Director, Business Coaching
Cell: (845) 573-8662
Office: (410) 216-1409
Email: Atsouco.saintlouis@bclending.org

Bowie Business Innovation Center (BIC)

Crystal Clark
Operations Director
Tel: (301) 383-1550
Email: crystal.clark@bowiebic.com

Capital Region Minority Supplier Development Council logo

Capital Region Minority Supplier Development Council

Sonya Bigelow-Smith
Director, Capital Readiness Program
Minority Business Development Agency
Tel: (301) 593-5863
Email: sonya.smith@crmsdc.org

Maryland Capital Enterprises

Maurice Ames
Executive Director

Tel: (410) 546-1900
Email: mames@marylandcapital.org

Operation HOPE

Shakiera Carter
Financial Wellbeing Coach, Small Business
HOPE Program Operations
Operation HOPE, Inc
Cell: (410) 870-9491
Office: (410) 216-1409
Email: shakiera.carter@operationhope.org

Small Business Resource Center

Denise Williams
301-314-8900

Other Resources

News & Spotlights

MSBDFA’s Loan Guaranty Fund Gets a Boost

We are so excited to announce the passing of House Bill 601. Governor Wes Moore recently signed House Bill 601 into law.  This bill strengthens MSBDFA’s Loan Guaranty Fund’s viability by allowing it to support the guarantee of loans from bank’s and other commercial lenders in more precise ways: 

  • Placing cash in an escrow account at a bank or another financial institution;
  • Providing a treasurer’s check to the Lender; or
  • Proving a letter of credit to the lender.
House Bill 601 signing

News & Spotlights

MMG Capital Group Hosts Inspiring Small Business Growth & Impact Legislative Reception

On January 23, 2025, MMG Capital Group hosted a Small Business Growth & Impact Legislative Reception at Latitude 38° Waterfront Dining in Annapolis, Maryland. The event welcomed key partners, including the Maryland Department of Commerce (“Commerce”) and the Legislative Black Caucus of Maryland (“Black Caucus”). Attendees featured a dynamic mix of business and community leaders, and representatives from both organizations.

Read more.

News & Spotlights

Governor Moore Signs Executive Order to Modernize and Strengthen Equitable Access to State Procurement System

Governor signs Executive Order for Procurement Reform in the State which should lead to greater opportunities for small businesses, minority-owned businesses and veteran-owned businesses.

Read more.

Governor Moore signs Executive Order for Procurement Reform

News & Spotlights

MSBDFA provides over $2 million in bonding to New City Construction

New City Construction, LLC is a small construction firm established in June 2005 and is located in Silver Spring, Maryland (Montgomery County). The company provides construction and renovation services to government agencies, private companies, non-profit housing organizations, investors, and homeowners.

News & Spotlights

Upcoming Speaking Engagements and Events

  • Our Executive Vice President & CIO, Anthony Williams, will be speaking at Easton (MD) Entrepreneur Center MBE NIGHT.

  • 0ur President of MAG (an MMG Company), Alex Agwuna, will be an exhibitor at The Mayor’s Office of Small and Minority Business Advocacy & Development 2025 Baltimore City Small Business Advancement Conference.

News & Spotlights

Harry Coker, Jr. named as new Secretary for Maryland’s Department of Commerce

Harry Coker, Jr., former U.S. National Cyber Director has been named Maryland’s next Secretary of Maryland’s Department of Commerce. He will lead the administration’s efforts to leverage the assets within the state and grow and invest in life sciences, information technology, and aerospace and defense. Secretary Coker has federal government and private sector experience in intelligence, defense and cybersecurity. Former Secretary Kevin Anderson will remain with the administration as a Senior Advisor for Economic Development. The MSBDFA program, managed by MMG Capital Group, is housed within the Maryland Department of Commerce. About Commerce Harry Coker, Jr.

Harry Coker Jr.

Taber J. Small

Taber J. Small is a Vice President and Loan Officer for MMG Capital Group. Prior to joining MMG, Mr. Small was an experienced commercial lender with previous employment at Bank of America, Wells Fargo, PNC, JP Morgan Chase and recently WesBanco Bank as a Senior Vice President Commercial Banker in middle market banking. During his tenure as a banker, he received numerous star banker awards and received the Omega Commercial Lending Advanced Credit Training Certificate of Achievement. He is a graduate of the University of Connecticut with a B.A. in Economics.

Mr. Taber is also very involved in the community and serves on numerous boards of organizations such as Associated Black Charities, Baltimore City Chamber of Commerce, 29th Street Community Center and NPOWER. He also serves on the development committee of the Reginald F. Lewis Museum and is a member of the Platinum Center Club based in Baltimore.

Contract Financing Program (CFP)

Contract Financing Program (CFP) provides financial assistance to eligible businesses in the form of direct loans. The funds may be used for working capital and the acquisition of equipment needed to begin, continue, or complete work on contracts where a majority of funds are provided by a federal, state or local government agency or utilities regulated by the Public Service Commission. Financing is limited to $2,000,000 and must be repaid during the term of the contract(s). Applicants may qualify for financing prior to contract award. Financings in the form of revolving lines of credit are renewable on an annual basis.

General Eligibility:

  • Principals must be of good moral character and have a reputation for financial responsibility;
  • Company must have its principal place of business in Maryland;
  • Company must be unable to obtain adequate business financing on reasonable terms through normal channels because of:
    • o An identifiable physical handicap that severely limits the ability of the applicant to obtain financial assistance;
    • o Its principal(s) belongs to a group that historically has been deprived of access to normal economic or financial resources because of race, color, creed, sex, religion, or national origin; or
    • o Any other social or economic impediment that is beyond the control of the applicant, such as lack of formal education, financial capacity or geographical or regional economic distress.
  • Company must have applied for and been denied a loan by a financial institution, evidenced by a turndown letter.
  • If the applicant is other than a sole proprietorship, at least 70 percent of the business enterprise must be owned by individuals who meet the qualifications for applicants.
  • Issuance of a loan must generate substantial economic impact (i.e. job creation or retention, and tax revenue for the state) in relation to the amount of the loan.
 

Maximum Policy Limits: Loans Provided Directly by MSBDFA $2,000,000

Interest Rates: Generally Prime Rate + 2% Payments: Principal and interest are payable as contract proceeds are received, in amounts satisfactory to MMG and the Authority. All Payments must be assigned to MSBDFA

Term: Duration of the Contract(s)

Use of Proceeds: Working Capital, Purchase of Machinery and Equipment, Supplies and Materials (Required to perform the contracts)