Small Business Expansion Program
The Somerset County Economic Development Commission operates a local revolving loan program, referred to as the Small Business Expansion Program (SBEP).
The SBEP was established in 1984 to assist local businesses to obtain funding for their expansion needs. To assist in the review of the potential loans,and to help in the management of the SBEP, the Somerset County EDC has formed the Somerset County Bankers’ Taskforce that will add professional financial guidance and support to the fund.
Financial guidance and assistance will also be available from the Small Business Development Center at Salisbury University, the Rural Development Center at the University of Maryland
Eastern Shore (UMES) and through the various programs provided through the Department of Business and Economic Development (DBED). The Somerset County EDC’s Revolving Loan Fund is administered jointly with Maryland Capital Enterprises in Salisbury, which can be reached as follows:
P.O. Box 1844
Salisbury MD 21802
410-546-1900 (telephone) • 410-546-9718 (fax)
The application along with other important information may be accessed by going to the link below. http://www.marylandcapital.org/content/loan-application-new-and-existing