Financial Assistance Programs & Business Resources

Bel Air Downtown Alliance 

Facade Improvement Program

The goal of the Bel Air Facade Improvement Program is to improve the exterior appearance of buildings in the Town’s commercial areas in order to attract new businesses, maintain existing businesses and make Bel Air a desirable place for individuals and families to shop, conduct business and reside. 

The program awards matching funds based on a competitive process, for upgrades and improvements of building exteriors only. Funds may be used to pay for labor, materials and design, permitting fees for improvements such as, but not limited to, exterior painting, refacing, masonry pointing, window and door replacement, awnings, signage and restoration to original appearances or finances. 

Harford County

Workforce Technical Training Grant

The Workforce Technical Training Grant (WFTTG) program is a competitive investment grant program to assist Harford County employers to become more productive and competitive. Harford County will provide matching funds to its businesses to accelerate the delivery of technical training to existing full-time permanent employees that will contribute to expand or improve production capabilities. 

Economic Development Opportunity Fund

This loan programto Learn more about what federal, state, or county legislative district I am in and the name of my legislatorsto open the Tourism Award Process Powerpoint provides funding to small businesses in Harford County to support their overall growth through capital investment, job creation and retention. These loans:

  • Provide funding up to $200,000 through flexible terms
  • Are eligible for, but are not limited to, building and land purchases, renovations, technology upgrades or equipment purchases
  • Can be used in conjunction with other lending institutions through gap financing and partnership  
  • Require collateral exceptions may be made for loans less than $10,000

BGE SEED Program


The SEED Program will allow qualifying businesses to invest more of the resources in their own operations by reducing BGE's charges for service extensions and temporarily decreasing energy distribution charges.


Program offers eligible commercial customers:

  • A 25% reduction on electric, natural gas distribution and demand charges for businesses that are located in priority zones (enterprise zone, sustainable community, and opportunity zone).
  • A 75% discount on service extension costs for businesses that are located in priority zones (enterprise zone, sustainable community, and opportunity zone).

Areas of the Town of Bel Air are located within a Sustainable Community. Contact the Department of Economic Development for more information. 

Small Business Development Center (SBDC)

 

The SBDC provides resources to assist in the development, expansion and retention of resident businesses. 

Services provided include: 

Services provided include:

  • Assistance with development of a business plan
  • Assistance in analyzing the market for a particular product or service
  • Managerial and technical support services
  • One-on-one counseling
  • Reference materials

Maryland State Programs

Financial Incentives for Maryland Businesses - Loans

Financial Incentives for Maryland Businesses - Grants

Small Business Administration (SBA)


Certified Development Company SBA (504) Program

 

Provides growing businesses with long-term, fixed rate financing for major assets, such as land and building. A Certified Development Company is a nonprofit corporation set up to contribute to the economic development of its community or region.

 

Funding is available for:

  • Acquisition of land
  • Building
  • Machinery and equipment
  • Construction and renovation, resulting in the creation of new full-time job opportunities

 

SBA 7A Loan Guaranty Program

 

Generally used to meet both short-term and long-term needs of small businesses that cannot obtain financing on reasonable terms through normal lending channels. The program operates through private sector lenders that provide loans which are, in turn, guaranteed by the SBA.  Must meet the underwriting criteria of the submitting bank and the SBA.

 

Tax Credits for Historic Properties 


Town of Bel Air

 

Properties which have been designated as local historic sites are eligible for local property tax credits in the amount of 10% of the total cost for exterior rehabilitation or 5% of the total cost of compatible new construction.

 

State of Maryland

 

Provides Maryland property tax credits equal to 25% of the qualified capital costs expended in the rehabilitation of a “certified heritage structure”.  Expenditures must exceed $5,000 within a 24-month period for owner occupied residential property, and the greater of the adjusted basis of the structure or $5,000 for all other property.

 

Maryland offers many different tax incentives for businesses.

  • Job creation tax credits
  • One Maryland economic development tax credit                  
  • Enterprise zone tax credits
  • Research and development tax credit
  • Brownfields tax incentives
  • Empowerment zone incentives


Workforce Development

The Department of Labor provides a full range of assistance to job seekers and businesses in each county at no cost. Whether you are a resident looking for a new career opportunity or you are a business owner who needs assistance with developing your workforce pipeline, Maryland's American Job Centers (AJC) can assist you. As part of the service, Susquehanna Workforce Center serves Harford County residents and businesses. 


Susquehanna Workforce Network offers assistance to employers and employees by providing innovative workforce development programs.  Their offerings include education, training, employment and outreach programs and services to further regional economic success and worker potential. 

Project Opportunity

Project Opportunity is a free entrepreneurship training program designed solely for veterans and military spouses who want to start their own business or expand their current small business. This series of workshops helps veterans and military spouses through a series of workshops designed to help them succeed as small business owners. 


Business Support Agencies

 

Bel Air Economic & Community Development Commission (ECDC)

 

Assists in the development of projects in the Town of Bel Air, related to economic development, commercial revitalization, parking, landscaping, informational and promotional brochures.


Bel Air Downtown Alliance Economic Vitality Committee

The Economic Vitality Committee works to strengthen the economic base of Downtown Bel Air through assistance to existing businesses, recruiting new businesses to provide a balanced commercial mix, converting unused space into productive property and sharpening the competitiveness of downtown merchants.