Neighborhood BusinessWorks

Neighborhood BusinessWorks Main_Content ​​​​​​​​​​​​Neighborhood BusinessWorks (NBW) loan program offers flexible financing to new or expanding small businesses and nonprofit organizations. Funding is available for projects located in Sustainable Community or Priority Funding Area (see Neighborhood Revitalization Mapper​ ​​​). NOTICE: Due to limited funding, the Neighborhood BusinessWorks program operates on a first-come, first-serve basis. The applications to date exceed the total amount of funds available until July 2026. Please review the State Small Business Credit Initiative (SSBCI) Program​ or contact ​ [email protected] ​ ​ to learn more or be added to our wait list. Eligible Applicant The following organizations may apply: Maryland-based small businesses (Defined as having 500 or fewer employees) Nonprofit organizations Local governments are not eligible applicants​. Eligible Projects Small businesses and nonprofit organizations may apply for loans to be used for a wide range of commercial purposes including: Mixed-use projects containing both residential and commercial uses in the same building (must include commercial space to qualify) Restaurants Child Care Facilities Markets Office space, including coworking and makerspaces Retail Manufacturing facilities Uses of Funds New other construction Machinery and equipment Working capital Real estate acquisition Other costs associated with expanding a Maryland small business Project Criteria To be eligible, a project must meet the following criteria: Located within one of the following targeted geographies: Sustainable Community Priority Funding Area (see Neighborhood Revitalization Mapper​ ​) Opportunity Zone in Allegany County, Garrett County, Somerset County, or Wicomico County Transit-Oriented Development area designated by the Maryland Department of Transportation BRAC Revitalization and Incentive Zone Demonstrate project viability and a positive impact on the neighborhood Loans must be underwritten and meet program underwriting policies, including: Appropriate debt service levels Sufficient collateral Personal guarantee Positive net operating income (NOI) Strong business plan Priority is given to projects that: Strengthen community commercial districts Add or retain child care slots Provide fresh food access Seed investment as part of a greater community revitalization mission Ineligible Projects The following types of projects and activities are not eligible for financing: Residential or transient living facilities (unless part of an eligible mixed-use project described in eligible projects section) Public facilities such as Community halls Fire stations Hospitals Colleges or universities Businesses such as: Adult bookstores Adult video shops Other adult entertainment facilities Gambling facilities Gun shops Liquor stores Cannabis businesses Massage parlors Pawn shops Tanning salons Tattoo parlors​ Loan Terms Loan amounts up to $5 million Interest rate is based on an underwriting analysis Flexible loan terms up to 30 years, depending on use and loan amount 10% applicant cash contribution is required Personal guarantees are required Application Apply online through our Application Portal: New users: Create an account by selecting the Registration link in the upper left corner of the application portal login screen. Returning users: Log in with your existing account. ​Application Portal​​ ​ There is a $250 application fee when you apply. Consultation For an initial consultation to discuss whether Neighborhood BusinessWorks or another DHCD business financing program may be a good fit for your business, please complete our Pre-Application Consultation Form​ and a member of our team will contact you shortly. NBW Fees $250 application fee $250 closing fee 1% commitment fee Program Documents

Eligible Applicant The following organizations may apply: