Welcome to the Anne Arundel Economic Development Corporation’s (AAEDC) application portal!

Our mission is to support business and serve as a catalyst for business growth in Anne Arundel County. To accomplish this mission, AAEDC provides investment and technical assistance to the business community, which results in increasing jobs, expanding the tax base and improving quality of life. These resources are available at no cost.

We appreciate your time in learning more about the programs and grant opportunities currently available through the AAEDC. If you need further assistance, send your inquiry to info@aaedc.org and a member of our staff will respond as soon as possible. We look forward to working with you!

VOLT Fund: Businesses in Maryland may qualify for a loan of between $25,000 to $500,000 for expenses such as business and commercial real estate acquisition and expansion, lease-hold improvements, equipment, and working capital.

Loan Requirements

  • Personal credit (640 or above)
  • Historical Debt Service Coverage Ratio (DSCR) of 1.00x or projections with assumptions showing 1.00x DSCR
  • Collateral required when available
  • SBA guaranty may be required
  • All owners over 20% must personally guaranty the loan
  • Life insurance on owner/guarantor where no valid succession plan is in place
  • Minimum equity injection of 10% for start-up businesses
  • Business plan required for start-up businesses

For more information, please visit: https://www.aaedc.org/business/financing-and-tax-credits/volt-fund/

The VOLT Growth Fund (VGF) aims to help Maryland based high growth innovative and technology product companies implement a go-to-market strategy and accelerate sales.  The program has flexible underwriting standards and payment terms to allow a company to grow its revenue and workforce as well as facilitate future equity investment.

Terms

  • Loan of up to $100,000
  • Term of up to 10 years
  • Loan fee of 10% due at the time of event of recapture
  • Event of recapture is defined as when the company raises 5x the amount of the original loan in equity investment or 5 years whichever is sooner
  • After event of recapture, loan to be repaid over 5 years in equal principal monthly payments
  • No interest or other closing costs
  • Collateral will be a blanket lien UCC filing assets (AAEDC may release or subordinate the UCC filing in order to allow follow on investment or debt to help grow the company
  • Personal guaranty of all active owners over 20% Spousal guaranty and guaranty's from investors not active in operations may not be required if all other underwriting criteria are met

Underwriting

  • Company should have strong management team in place with a proven track record of success
  • The product must be created/completed and ready to bring to market
  • AAEDC will evaluate amount of previous and prospective future equity and debt investment in the company when determining viability of success
  • Pre-revenue and minimal revenue companies may apply
  • Applicant to provide realistic financial projections showing cash flow positive within 12 months
  • Borrower is required to provide a business plan or investor deck showing pathway to growth and profitability

For more information, please visit: https://www.aaedc.org/business/financing-and-tax-credits/volt-growth-fund/

AAEDC is an active partner in growing our innovation community by providing an important lifeline of financing to help technology companies get to the next stage of growth. The Next Stage Loan Fund is intended for:

  • Technology companies have gross revenues less than $5 million and fewer than 100 employees.
  • Companies support national defense, including but not limited to, logistics and technical support.
  • Companies that employ designers, developers or producers of materials, components or equipment required to meet the needs of national defense.
  • Companies that provide a product or service that is deemed ancillary to or in support of the nation’s cyber and defense industry.
  • Companies that have a lease in place within Anne Arundel County.
  • Companies where financing help your business create new full-time jobs within the first year.


  • Zero percent interest loan of between $50,000 to $250,000.
  • Eligible uses: lease-hold improvements, equipment and working capital to help fund growth.
  • Payment term of 1-5 years based on cash flow.
  • A business must remain in Anne Arundel County for the length of the assistance. Moving out of the county will trigger the full principal balance of the loan to be due.
  • All owners with over a 20% stake will be required to sign a personal guaranty.
  • Collateral may be required.
  • Startup companies will be required to have a business plan and contracts in place to cover debt service.
  • Standard underwriting practices will be used to process the loan. Factors to be considered include repayment capacity, financial strength of the company and guarantors, industry and management experience, and collateral protection.

For more information, please visit: https://www.aaedc.org/technology-cyber/next-stage-tech-fund/

The Arundel Community Reinvestment (ACR) Fund is designed to spur economic activity, investment and improvement in Anne Arundel County’s eleven Commercial Revitalization Districts,  the area at inner West Street in Annapolis from Church Circle to Chinquapin Round Road and the county’s one state-designated Enterprise Zone is Brooklyn Park.

The ACR offers loans up to $100,000 to be repaid over three to seven years at zero percent interest. Loans are limited to 90% of total project costs.

Eligible improvements include renovation and upgrades to building exteriors and site improvements, including landscaping. If exterior improvements exceed $60,000, the applicant may include up to $40,000 in interior improvements. In addition to financial assistance, the program includes professional architectural services provided by a full service architectural firm with experience in commercial revitalization.

For more information, please visit: https://www.aaedc.org/business/financing-and-tax-credits/acr-fund/

Anne Arundel Economic Development Corporation