Town of Snow Hill Business Loan
- Up to $20,000 at 3% interest rate with matching collateral.
- Application
Maryland Capital Enterprise Fund
- Micro Loans- $5,000-$35,000, up to 10 years at 6%+, based on credit, collateral, and business plan strength
- Designed for startups, microbusinesses, and entrepreneurs lacking collateral or bankable credit
- Expansion Loans- $35,001-$100,000, up to 10 years at 6%+, based on credit, collateral, and business plan strength
- For businesses looking to expand, hire, purchase equipment, or take on working capital
- MCE Business Loan Application
Own Your Future
- Own Your Future is a program of the Maryland Department of Housing and Community Development (DHCD). It provides financial assistance to help small businesses buy property they can operate in and use to build wealth.
- https://dhcd.maryland.gov/Business/Pages/Own-Your-Future.aspx?utm_source=email&utm_campaign=member-elert-021726&cmp=1&utm_medium=february
VLT Loan Program
Enterprise Zone
- Tax benefits to those commercial properties located in zones B1 & B2
- Enterprise Zone Tax Credit
- The following tax credit opportunities are available to registered businesses within the Town of Snow Hill’s designated enterprise zone:
- The real property tax credit is a 10-year local property tax credit to the property owner on the “eligible assessment” and subsequent increases to real property taxes resulting from improvements to real property. The amount of the tax credit is each of the first five taxable year is equal to 80%. In years six through ten, the credit decreases 10% annually (70%, 60%, 50%, 40%, and 30%). If the designated zone is a “Focus Zone”, the amount of the tax credit in each of the ten taxable years is equal to 80%.
- The income tax credit is the one-time $1,000 tax credit against State income tax liability for each qualified new full-time employee, working 35 hours or more per week for six months before or during the taxable year in which the credit is taken. The employee must have been hired to fill a new position at an hourly wage of 150% of the federal minimum wage.
Arts & Entertainment District
Maryland Historic Trust
- Tax Credit Program
- Grant Funding
Maryland Opportunity Zone
- New investments, under certain conditions, may be eligible for preferential tax treatment. For investors seeking capital.
- Opportunity Zones
Maryland Financial Incentives for Businesses
- Comprehensive list of various grants and specific programs for businesses
- Maryland Funding Incentives
Maryland Small Business Development Center
Shore Hatchery Competition at Salisbury University
- An annual event to reward individuals for their entrepreneurial efforts in the creation and growth of businesses with the potential of positively impacting regional employment
- More Info