Maryland Small Business Development Financing Authority (MSBDFA)

Created by the Maryland General Assembly in 1978, MSBDFA promotes the viability and expansion of businesses owned by economically and socially disadvantaged entrepreneurs, as well as any small business that does not meet the established credit criteria of financial institutions and is consequently unable to obtain adequate financing on reasonable terms through normal channels. Managed by MMG Capital Group on behalf of the Maryland Department of Commerce, the program offers a 'continuum of affordable financing products' — including direct loans, loan guaranties, surety bonds, and equity investments — designed to support businesses at every stage of their life cycle, from inception through growth and exit. In 2022, MSBDFA received $45 million in federal SSBCI funding to further expand access to capital for small and SEDI-owned businesses across Maryland.