Our Products offered under the MSBDFA & MCBIF state of Maryland Managed Funds
| LINES OF CREDIT | TERM LOANS | SURETY BOND | EQUITY INVESTING | |
| Types of Financial Assistance | Loan guaranty. Equity guaranty. Direct loan. |
Guaranty of a Bank loan up to 80%. Direct Loan. |
Guaranty of surety bonds. Direct issuance of surety bonds. Establishment of surety bonding lines. |
Loan. Investment. Guaranty of investment. |
| Amounts Available | Maximum payable under loan guaranty not to exceed $2,000,000. Up to $2,000,000 direct loan. |
Loan amount not less than $25,000. Maximum payable under loan guaranty not to exceed $2,000,000. |
Guaranty up to lesser of 90% or $2,250,000 of surety losses. Direct bonds not more than $2,500,000 each. |
Not to exceed $2,000,000. |
| Eligible Uses | Working capital and equipment. | Working capital. Refinancing debt. Machinery & Equipment. Improvements to real property leased or owned. Acquisition of real property used in business. |
Bid, payment & performance bonds related to contracts funded by government agencies, public utilities, or private entities. | Working capital; purchase of inventory, equipment, or real property; construction/renovation; leasehold improvements. |
• Community Development Ventures, L.P.
• MMG Ventures, L.P.
MARYLAND SMALL BUSINESS DEVELOPMENT FINANCING AUTHORITY (MSBDFA)
The Maryland Small Business Development Financing Authority (MSBDFA) was created by the Maryland General Assembly in 1978 to assist in the development of socially or economically disadvantaged entrepreneurs in the creation of Maryland businesses. MSBDFA’s financing activity is supported through the repayment of loans, generation of interest income and the collection of fees.
MARYLAND CASINO BUSINESS INVESTMENT FUND (MCBIF)
MMG has been designated as one of the managers for the Video Lottery Terminal Fund Pool. The Company manages and invests the capital into businesses located within the Targeted Areas and throughout the State of Maryland. The name MMG has chosen for the fund is the Maryland Casino Business Investment Fund (“MCBIF”).
What is a Term Loan?
A loan from a bank for a specific amount that has a specified repayment schedule and a floating interest rate. Term loans almost always mature between one and 10 years.
(Investopedia.com)
Types of Financial Assistance
Guaranty of up to 80% of P&I on long-term loans.
Direct Loan.
Amounts Available
Loan amount not less than $5,000.
Maximum payable under loan guaranty not to exceed $2,000,000.
Eligible Uses
Working capital.
Refinancing debt.
Machinery & Equipment.
Improvements to real property leased or owned.
Acquisition of real property used in business.
Let’s talk about it.
What is Surety?
The guarantee of the debts of one party by another. A surety is the organization or person that assumes the responsibility of paying the debt in case the debtor policy defaults or is unable to make the payments. The party that guarantees the debt is referred to as the surety, or as the guarantor.
(Investopedia.com)
Types of Financial Assistance
Guaranty of surety bonds.
Direct issuance of surety bonds. Establishment of surety bonding lines.
Amounts Available
Guaranty up to lesser of 90% or $2,250,000 of surety losses.
Direct bonds not more than $2,500,000 each.
Eligible Uses
Bid, payment & performance bonds related to contracts funded by government agencies, public utilities, or private entities.
Let’s talk about it.
What is a line of credit?
An arrangement between a financial institution, usually a bank, and a customer that establishes a maximum loan balance that the bank will permit the borrower to maintain. The borrower can draw down on the line of credit at any time, as long as he or she does not exceed the maximum set in the agreement.
(Investopedia.com)
Types of Financial Assistance
Loan guaranty.
Equity guaranty.
Direct loan.
Amounts Available
Maximum payable under loan guaranty not to exceed $2,000,000.
Up to $2,000,000 direct loan.
Eligible Uses
Working capital and equipment.
Let’s talk about it.
What is Equity Investing?
An equity investment generally refers to the buying and holding of shares of stock on a stock market by individuals and firms in anticipation of income from dividends and capital gains, as the value of the stock rises.
(wikipedia)
Types of Financial Assistance
Loan.
Investment.
Guaranty of investment.
Amounts Available
Not to exceed $2,000,000.
Eligible Uses
Working capital; purchase of inventory, equipment, or real property; construction/renovation; leasehold improvements.
Let’s talk about it.