Guidelines

The purpose of the Maryland Casino Business Investment Fund (MCBIF) is to provide access to capital for small businesses, minority owned businesses, women owned businesses and veteran owned businesses (Targeted Businesses) in Maryland.


Fund Use
Provide senior loans, subordinated loans, micro loans, loans with success features, acquisition of equipment, owner-occupied real estate, business acquisitions, leasehold improvements, professional/technical assistance, and refinancing of existing debt.


Financing Products
Term loans, lines of credit, demand loans, letters of credit, micro loans.


Range of Funding
Minimum of $5,000 up to a maximum of $500,000.


Term of Debt
One to ten years with the ability to amortize the debt over a longer period of time. Lines of credit, short term loans and letters of credit may be issued for less than one year.


Interest Rate on Debt
Rates for term loans will generally range between 4% and 8%.
Rates for lines of credit will generally be between 4% and 7%.


Interest Rate on Professional /
Technical Assistance Loans

Will generally range between 2% and 4%.


Collateral
Full, limited, and no collateral value coverage will be considered.


Personal Guaranties of Debt 
Will be required.


Years in Business
Generally, businesses that have been operating for at least two years. Start-ups will be considered if principals have significant industry experience.


Business and Personal Credit Scores
Will consider businesses and individuals that have less than fair credit scores, taking into consideration special circumstances.


For more information
or to apply, contact:

Meridian Management Group, Inc.
(MCBIF Fund Manager)

826 E. Baltimore Street
Baltimore, MD 21202
PHONE: 410-333-4584
FAX: 410-333-2552
info@mcbif.com