Southern Maryland Agricultural Equity Incentive Matching Fund
Available MARBIDCO Programs under the SMADC Partnership
To apply, see the Applications page.
The Southern Maryland Agricultural Development Commission (SMADC) has provided funds to support this special regional agricultural development incentive, for use in seven of MARBIDCO’s existing loan programs (please see list above). This joint partnership is designed to incentivize loan requests from Southern Maryland farmers, and to help them meet certain down-payment (equity) requirements in order to help improve the credit quality of their applications. The availability of SMADC incentive funding should lead to more applications being submitted from the Southern Maryland region.
Each MARBIDCO program has its own eligibility criteria and application/approval process. Southern Maryland applicants would simply follow the regular application process, and would otherwise meet the rigors of MARBIDCO’s underwriting criteria for each loan program.
The loan request equity incentive would work as follows:
- A 5% cash equity contribution (minimum) from a farmer towards the hard costs of a project can be matched with 5% from the Fund (with a cap of $5,000 - or 5% of the MARBIDCO loan advance - whichever is less; Except for larger MRBIFF program loans where the cap is $20,000).
Note: The equity contribution cap can be prorated down for Beginner Farmers only (using USDA’s definition of 10 or less years of experience), where a down payment of between 1% - 5% would leverage the same percentage from the program as is contributed by the farmer.
- In summary, SMADC can contribute up to a maximum of $20,000 towards a MRBIFF Program loan, and in all other loan programs the equity incentive match would be capped at $5,000 (per applicant).
All MARBIDCO loan applications are to be originated by the applicant (or in the case of the MRBIFF Program, with the assistance of a commercial lender too). University extension agents, county and regional agricultural marketing officials and other rural business service providers may assist in the development of applications. Applications are processed by MARBIDCO as they are received. (All MARBIDCO loans must be personally guaranteed by the owners of the farm or business.)
[Click here for information about the Southern Maryland Revolving Loan Fund]
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Rural Business Assistance Programs
Maryland Resource-Based Industry Financing Fund Loan (MRBIFF)
Maryland Vineyard Planting Loan Fund (MVPLF)
Rural Business Equipment and Working Capital Fund Loan (RBEWC)
Forestry Equipment and Working Capital Loan Fund (FEWCL)
Rural Business Energy Efficiency Improvement Loan Fund (RBEEIL)
Maryland Shellfish Aquaculture Loan Fund (MSAL)
Maryland Remote Setting Shellfish Aquaculture Loan Fund (MRSA)
Revolving Loan Fund (SMRLF)
Maryland Urban Agriculture Commercial Lending Incentive Grant (MUACLIG)
Local Government Ag/RBI Project Cost Share Program (LGCS)
The Maryland Value Added Matching Producer Grant Program (MVAMPG)
The Maryland Value Added Producer Grant - Capital Assets Option Program (MVAPG-CAO)
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