Guide to Small Business Assistance
Prepared for
College Park businesses
Department of Planning, Community and Economic Development
City of College Park
4500 Knox Rd.
College Park, MD 20740
Christopher Warren, Economic Development Coordinator
Phone: (301) 277-3445 Fax: (301) 887-0558
CITY OF COLLEGE PARK
Dept. of Planning and Community Development
Christopher Warren, Economic Development Coordinator
(301) 277-3445
Staff Assistance
City staffs are available to assist business owners, commercial property owners and those considering locating in College Park.
Commercial Landscaping Program
The City offers grants of up to $5,000 to business owners located on commercial corridors for installing landscaping along the road frontage. The City pays 75% of the cost.
Business Beat
What's going on in the College Park business community? Keep in touch by reading "Business Beat," which appears in the Municipal Scene section of the College Park Gazette the last Thursday of each month. "Business Beat" is also on the City's website. For a free subscription or to contribute your news, call
Christopher Warren.
Free Link
To help promote College Park businesses, the City can provide a link on the College Park website to your site. (See "Links" on the City's website.)
PRINCE GEORGE'S COUNTY
Small Business Growth Fund
(301) 429-3044
http://www.pgcedc.com/ (see "Financial Services")
Provides loans for equipment purchase, working capital, inventory and leasehold improvements. Loan range: $25,000-$250,000. Startup funding considered on a
Case-by-case basis.
SBA 504
(301) 429-3044
http://www.pgcedc.com/ (see "Financial Services")
Provides long term, below market rate financing, covering a wide range of needs for growing businesses. Loans of up to $750,000 covering up to 40% of project cost.
SBA 7(a)
(301) 429-3044
http://www.sba.gov/ (see "Financial Services")
Loans for businesses that cannot obtain financing on reasonable terms through other channels. Covers a wide range of needs, including working capital. Loan range: $10,000-$1 million.
Prince George's County Revitalization Tax Credit
(301) 429-3044
http://www.pgcedc.com/ (see "Incentives")
Provides relief from the increased tax burden associated with property improvements.
REGIONAL
Transit Subsidy
http://www.wmata.com/ (see "Metrochek")
The Washington Metropolitan Area Transit Authority offers a zero-cost way for employers to subsidize employees' transit costs: a pre-tax payroll deduction program. (The City of College Park participates in this program.)
STATE OF MARYLAND
Maryland Small Business Development Center
Capital Region Office
7100 Baltimore Ave., #402, College Park
(301) 403-0501
Provides a wide variety of services, including classes and one-on-one counseling. Many services are free.
Neighborhood Business Development Program
(410) 209-5800
http://www.dhcd.state.md.us/ (see "Revitalizing Communities")
Provides gap financing for new or expanding businesses for wide range of needs, including real estate acquisition and working capital. Loans of $25,000-$500,000 covering up to 50% of project cost.
Department of Business and Economic Development
(240) 777-2027
http://www.choosemaryland.org/ (see "Business Assistance")
This website provides clear and comprehensive information about DBED regulations and services, including regional business assistance centers. (Note: The Small Business Development Financing Authority provides a range of loans, bond guarantees and equity investments. Many are targeted at socially and economically disadvantaged business owners.)
Energy Efficiency
http://www.energy.state.md.us/incentive.htm
The State of Maryland now exempts energy-efficient appliances from sales tax. The Maryland Energy Administration also provides a range of free assistance.
Business Tax Credits
http://www.marylandtaxes.com/ (see "Business Taxes")
The State of Maryland offers several business tax credits. This website provides information on the credits as well as other programs that assist small business owners.
FEDERAL
SBA 504 and 7(a)—see Prince George's County
Microloans
http://www.sba.gov/financing (see "Loan Programs")
Loans of $500-$25,000. SBA authorizes over 100 microlenders nationwide to administer the SBA 7(m) MicroLoan program.
Energy Star
(888) STAR-YES
The EPA Energy Star program provides a wealth of free information to help business owners cut utility bills. A good place to start is the free guide "Putting Energy Into Profits," available on the website.
CHAMBERS OF COMMERCE
Prince George's Chamber of Commerce
(301) 731-5000
Membership consists of Prince George's County businesses.
Baltimore-Washington Corridor Chamber of Commerce
(301) 725-4000
http://www.baltwashchamber.org/
Covering Prince George's, Montgomery, Howard and Anne Arundel counties and Baltimore and Washington.
WOMEN'S BUSINESS ORGANIZATIONS
Women Business Owners of Prince George's County
(800) 926-6720
PO Box 736, College Park, MD 20740
Women's Business Center
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