Maryland SSBCI Funds 27 Businesses – 1,300 Jobs in FY23 

Maryland’s SSBCI has committed more than $33 million to 27 applicants operating in historically underserved communities.

Launched in August 2022, SSBCI created a partnership between three state agencies to administer up to $198 million in federal relief to small businesses. 

The state’s SSBCI investment has leveraged an additional $190 million in  private capital..

“I’m grateful to our federal partners for the important relief provided to Maryland through the State Small Business Credit Initiative. The cooperation and collaboration between the three state agencies charged with administering this program has led to a successful first year of operations, and applications are still open,” says Secretary Jake Day. 

“Our ongoing deployment of these resources and other small business assistance will help create an economy in Maryland that is competitive and equitable for all small business owners, provides job opportunities for working families, and leaves no community behind.”