Next Stage Loan 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/