ANNAPOLIS, Md. – The Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) is offering a new Maryland Watermen’s Micro Loan Program to assist “generational watermen” with the purchase of needed equipment via low interest, unsecured loans.
For generations, Maryland watermen have labored to harvest delicious fish and shellfish products from the Chesapeake Bay for the benefit of consumers in this State, across the country, and around the world.
Maryland’s iconic seafood industry contributes greatly to Maryland’s economy and stature as a tourist destination, and a great place to live.
Maryland watermen have historically had a difficult time accessing affordable commercial capital and credit and have faced many challenges in recent years and were especially hard-hit during the COVID-19 pandemic.
For this reason, with the support of the Governor and Maryland General Assembly, MARBIDCO has established the Maryland Watermen’s Micro Loan Program.
The loan will run through June 30. 2025. An advantage of this loan program is that if all payments are made as agreed to by the borrower, MARBIDCO will forgive a portion of these payments towards the end of the loan agreement.
Application forms will be available on MARBIDCO’s website beginning on June 15, 2022: https://hubs.la/Q01bWwPN0.
For more information, please call Dan Sweeney at 410.267.6807 or email him at dsweeney@marbidco.org.