Business Boost has reopened its application portal to accept additional applications through Friday, March 29, 2024, at 5 p.m. The Maryland Department of Housing and Community Development (DHCD) through the Neighborhood BusinessWorks (NBW) program, is offering up to $2,000,000 of Business Boost microgrants ranging from $20,000 to $50,000 to support small businesses who need capital for growth and/or expansion opportunities.
The Business Boost microgrant assists businesses seeking to expand their business, or establish a location, with a preference to supporting home-based businesses in establishing their first commercial location outside of the home. Business Boost funding will fund businesses that meet one or more of the priority impact attributes that lead to growing the economy throughout the state. A few of the priority impact attributes are:
- Businesses within a Sustainable Communities area.
- Innovative small businesses that drive innovation or technology advancements.
- Businesses that are growing new industries.
- Businesses focused on regional strengths to grow local economies.
- Businesses that leverage partnerships between local school districts, community colleges, and other higher education institutions in Maryland.
- Minority Business Enterprise (MBE).
Apply online today at https://dhcd.maryland.gov/Business/Pages/Microgrant.aspx.
