Catalyst Fund Loans for Small Business

The Catalyst Fund, powered by the Howard County Economic Development Authority (HCEDA), is part of Maryland’s Video Lottery Terminal Small, Minority and Woman-Owned Business Account initiative. The fund is a locally managed source of capital used to finance start-ups and expanding businesses statewide whose projects will create permanent jobs and leverage private sector investment. Catalyst is a Revolving Loan Fund (RLF) as borrowers repay Catalyst Fund loans, the principal and interest payments are returned to the fund for lending to other businesses to create more jobs and investment opportunities.

What can I use the fund for?

Loan funds can be used for normal business uses such as working capital, equipment, real estate, franchise fees and inventory purchases. Loan amounts are always subject to availability of funds.

The Catalyst Fund will help you find the resources to:

• Expand your business
• Finance a new product launch
• Fund business growth
• Purchase commercial real estate
• Purchase equipment
• Purchase inventory
• Start a new business
• Supply working capital
• Support a new contract

All Business Loan Requests Will Focus on the Character, Credit, Experience and Reliability of the Applicant. The Primary Considerations Are:

• The likelihood that the projected cash flow will be sufficient to repay obligations
• Willingness to pay debts, as indicated by a good credit history
• The business has a good chance of achieving success with the requested financing
• Availability of collateral to secure the loan.

I’m Interested. How Do I Proceed?

Step 1: In order to determine your eligibility and qualification to receive a Catalyst loan, please submit a Catalyst Interest Form to edaloans@hceda.org.

Step 2: In addition, all potential candidates must complete a Catalyst Online Application. Please attach the Catalyst Loan Application Form to answer question #6.

Step 3:  Once complete, submit the Application Form to the Director, Business Incentives Programs:

Email to:
Director, Business Incentives Programs

Mail to:
Director, Business Incentives Programs
6751 Columbia Gateway Dr. Suite 500
Columbia MD, 21046

Step 4: Immediately after application submission, submit non-refundable application fee of $300 at: www.PayPal.Me/HCEDA