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Maryland

These resources – like the public health crisis itself – are constantly evolving and are only current as to the date of publication. This page was last updated on May 14, 2020.

For more up-to-date information on the relief programs available in Maryland, we recommend that you visit the state's COVID-19 Business Response website or the Department of Human Services' Coronavirus COVID-19 Resources.

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Description of Program and Relief

Agricultural and Resource-Based Industry Pandemic Adjustment Loan Fund

This loan program is targeted to assist agricultural or resource-based enterprises in making adjustments to their business operations to take advantage of market opportunities. Eligible farms and rural businesses can apply for loans of up to $3,000 in working capital and $10,000 for equipment purchases (with a maximum total loan amount of $10,000 for all purposes): repayments will be interest only for 5 months, followed by payments for 12 to 36 months at a rate of 3.75%. Borrowers who make all of their payments will receive a 10% grant back at the end.

Government or Lead Agency

Maryland Agricultural & Resource-Based Industry Development Corporation [MARBIDCO]

Dates Available

Applications currently open, and accepted until May 31, 2020

Eligibility Requirements/Restrictions

Open to agriculture or resource-based enterprises

Application Deadlines (If Applicable)

May 31, 2020

Contact for More Information

Email: Info@marbidco.org

Telephone: (410) 267-6809

List of Additional Information

http://www.marbidco.org/_pages/programs_loans/loan_programs_palpf_1.htm


© 2021 Paul, Weiss, Rifkind, Wharton & Garrison LLP. This does not constitute legal advice and does not create an attorney-client relationship. In some jurisdictions, this publication may be considered attorney advertising. Past representations are no guarantee of future outcomes.

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