For many small businesses, securing the right funding can be a major challenge. Traditional loans often come with high barriers to entry, making it difficult for businesses to access the capital they need to grow. That’s where the Howard County Economic Development Authority’s FLEX Line of Credit Program comes in. Designed specifically for Howard County businesses, FLEX provides a revolving line of credit to help cover short-term financial needs.
What is the FLEX Program?
The FLEX Program offers lines of credit ranging from $30,000 to $100,000, giving local businesses the flexibility to manage everyday expenses and unexpected costs. Whether you need funds for payroll, supplier fees or other short-term needs, FLEX provides a low-cost financing solution tailored to small businesses.
Unlike traditional loans, FLEX features:
- No monthly fees – Just a simple 2% annual fee
- Competitive interest rates
- Fixed-rate options for applicants with credit scores of 700+
- Waived annual fees in year one for Maryland Innovation Center (MIC) members
This program is designed for businesses that have been operational for at least one year and are based in Howard County. Businesses must demonstrate the ability to repay obligations and have a preferred credit score of 600+.
Why FLEX?
Howard County businesses often face financial hurdles when traditional lenders turn them away. The FLEX Program provides a reliable funding source for:
- Small, minority, woman and veteran-owned businesses
- Businesses experiencing temporary cash flow gaps
- Companies looking to fund supplier fees or payroll without high-interest loans
The best part? Applications are open year-round! There are no deadlines, so businesses can apply whenever they need funding.
If your business needs fast, flexible funding, don’t miss out on this opportunity. Apply today and take the next step toward financial security and growth.
Learn more and apply now: bit.ly/FLEX-LOC