Agribusiness Equipment and Working Capital Loan Fund (Agribusiness EWC Loan Fund)

Financing for Maryland agribusiness working capital and equipment purchases. The program helps rural businesses innovate, diversify, and take advantage of emerging market opportunities, addressing the financing needs of Maryland agribusinesses unable to obtain commercial financing for working capital and equipment from traditional lenders.

Applications must be originated by the applicant and a partnering lending organization (Cooperative Extension agents, county agricultural marketing officials, and other business professionals may assist). A public-sector lender may participate by committing to a specified level of matching financing; when there is no participating public-sector lender, a commercial lender must provide a credit-denial letter or complete the commercial lender referral form. All loans made to a business entity must be personally guaranteed by its owners.

Loans range from $15,000 to $100,000. Interest: 4.75% with a public-sector lender, or 6.75% without one. Terms: equipment 3 to 8 years (up to 12 months interest-only); operating loans 1 to 2 years (up to 6 months interest-only). Origination fee: 1% of loan amount. Typical equity requirement: 10% of project cost. The Upper Shore Regional Council and MARBIDCO offer a 5% equity contribution toward eligible loans for farmers in Cecil, Kent, and Queen Anne's counties.

Applications are originated by the applicant and partnering lending organization and sent to MARBIDCO Agribusiness Loan Program, 1410 Forest Drive, Suite 21, Annapolis, MD 21403, or info@marbidco.org. Applications are processed as received.