Maryland Small Business Development Financing Authority Lending Program

The Maryland Department of Commerce (COMMERCE or the “Department”) is issuing this Request for Proposals (RFP) to acquire a Contractor to manage the Maryland Small Business Development Financing Authority (MSBDFA) Program, pursuant to §5-501 et seq. of the Economic Development Article, Annotated Code of Maryland. 

The Maryland General Assembly created the MSBDFA program in 1978. The original purpose of MSBDFA was to promote the viability and expansion of businesses owned by economically and socially disadvantaged entrepreneurs. In the 2001 session of the Maryland General Assembly, Chapter 172 modified the MSBDFA statute concerning eligibility. The statute has been expanded to include Eligible Businesses as per federal Small Business Administration (SBA) size standards that do not meet the established credit criteria of financial institutions, and consequently are unable to obtain adequate business financing on reasonable terms through normal financing channels.