MARBIDCO Grant Programs

Upper Shore Regional Council Farm Incentive Fund

Partnership Program to Incentivize Upper Shore Maryland Producers

 Photo: Maryland Public Television

Overview

This effort is designed to incentivize loan requests from Upper Shore farmers, and to help them meet certain down-payment (equity) requirements of lenders in order to help improve the credit quality of their applications.This program connects farmers with vital resources by making a 5% equity contribution towards financing a project funded by a MARBIDCO loan. The availability of USRC incentive funding should lead to more applications being submitted from the Upper Shore region, including Cecil, Kent and Queen Anne's counties.

MARBIDCO LOAN PROGRAMS INCLUDED IN THIS OFFER ARE:

• Maryland Resource-Based Industry Financing Loan Fund (MRBIFF);
• Pandemic Recovery Equipment and Working Capital Loan Fund;
• Vineyard/Hops/Orchard Planting Loan Fund;
• Shellfish Aquaculture Finacing Fund;
• Remote Setting Shellfish Aquaculture Loan Fund;
• Forestry Equipment and Working Capital Loan Fund; and
• Rural Business Energy Efficiency Improvement Loan Fund.

Each MARBIDCO program has its own eligibility criteria and application/approval process. Upper Shore applicants would simply follow the regular application process, and would otherwise need to meet the rigors of MARBIDCO’s underwriting criteria for each loan program.

To learn more about the Upper Shore Regional Council, check out their website.

USRC can contribute up to a maximum of $15,000 towards a MRBIFF Program loan, and in all other loan programs the equity incentive match would be capped at $5,000 (per applicant). A match of 5% borrower equity is generally required in order to obtain the incentive funds.