MARBIDCO

MATTERS

Spring Issue Vol. IV

Maryland Agricultural and Resource-Based Industry Development Corporation's (MARBIDCO) quarterly newsletter offers Ag/RBI economic development news you can use. Discover our financing opportunities, programmatic updates, news, upcoming events, and more.

WHAT'S NEW @ MARBIDCO

AAEDC & MARBIDCO Award Total of $50,508 Helping 8 Farm-Based Businesses in AACo Expand Operations

Together, the Anne Arundel Economic Development Corporation (AAEDC) and the Maryland Agricultural and Resource-Based Industry Development Corporation (MARBIDCO) recently awarded $50,508 in matching grants to eight farm-based businesses in Anne Arundel County through the 2025 Agricultural Business Improvement Grant (ABIG) program.

MARBIDCO contributed $21,185.62 to six of the grantees through its Local Government Agriculture & Resource-Based Industry Project Cost-Share Program to further support agricultural growth across the State. These projects have a lasting impact on the farms by helping to enhance production, improve infrastructure, expand local agricultural businesses, and encourage the growth and sustainability of Anne Arundel County’s agricultural community.

Awards went to a variety of farms. Projects funded included the expansion of a cranberry U-Pick operation, expansion of turkey production and processing, purchasing equipment related to blue catfish and blue crab harvesting, building new greenhouses, fencing, and a pole barn.

Legislative Changes to MARBIDCO Programs

During the 2025 General Assembly session MARBIDCO received funding to continue its Livestock Processing Equipment Grant and Wood Products Industry Equity Incentive Grant programs.

The Governor had proposed $300,000 for this purpose and the General Assembly approved it. Also, given the State’s serious fiscal challenges, the final year of funding for the Watermen’s Microloan Program was repealed, but thankfully MARBIDCO still has funding to lend through this program.

Two changes were made to the Maryland Oyster Shucking House Loan program to simplify the program and make it easier to qualify. The legislation included: 1) reducing the number of years that a borrower must be a licensed seafood dealer to apply from five years to three years, and 2) increasing the eligible loan amount a borrower can qualify for from $10,000 per “seasonal full-time job” created or retained to $25,000. These changes take effect July 1, 2025. Other program requirements remain unchanged, including the maximum loan limit of $250,000

Above: At an April bill signing ceremony (left to right standing), Senator Jack Bailey, a sponsor of the Oyster Shucking House Loan Program bill, MARBIDCO Executive Director, Stephen McHenry, Rural Maryland Council Executive Director and MARBIDCO board member, Charlotte Davis, Delegate Dana Jones, a sponsor of the bill and Chief of Staff for Delegate Dana Jones, Josh Paper. Seated are Senate President, Bill Ferguson, Governor Wes Moore and Speaker of the House, Delegate Adrienne Jones.

Watermen's Microloan Program Update

MARBIDCO is pleased to announce that on July 1, 2025, “Beginner Watermen”, in addition to “Generational Watermen”, are now eligible to apply for MARBIDCO’s low-interest Watermen’s Microloan program.

A “Beginner Waterman” must be a resident of Maryland, have at least two years but no more than 10 years of experience in commercial seafood harvesting, and hold either a TFL issued by DNR or a commercial fishing license issued by the Potomac River Fisheries Commission.

Generational Watermen that apply must hold either a TFL issued by DNR or a commercial fishing license issued by the Potomac River Fisheries Commission and be able to demonstrate that at least 50% of their income is from commercial seafood harvesting through the submission of the last two years tax returns.

Eligible tangible equipment that may be purchased through this microloan program includes boats, motors, and harvesting gear.

Watermen can borrow up to $20,000 for equipment, up to $30,000 for a workboat, and up to $40,000 for the purchase of both a workboat and equipment. Watermen may not borrow more than $40,000 during the lifetime of the program. Loans have an interest rate of 3.00% and partial loan forgiveness may be available for good loan repayment performance

Watermen's Microloan

MARBIDCO Loan Programs

MARBIDCO Offers Two Maryland Resource-Based Industry Financing Fund (MRBIFF) Options

The MARBIDCO MRBIFF Loan Program now offers a Participation Loan option in addition to its traditional Direct Loan option. Under the Participation Loan option, the senior lender holds and services the MARBIDCO portion of the commercial financing.

Both options offer low-interest loans to Ag/RBI businesses for the purchase of land and capital equipment for commercial food, feed, and fiber production and processing projects.

MARBIDCO typically finances between 30-49% of the debt. The Participation Loan option is currently offered through Horizon Farm Credit and Colonial Farm Credit. MARBIDCO welcomes other lenders to adopt this lending approach. If interested, please contact MARBIDCO.

Direct Loan Maximum Loan Amounts

Real Estate and renewable energy projects- $600,000
Equipment/fixed assets- $300,000
Large-scale food/fiber processing projects-$1,000,000 (but not more than 25% of the project cost)

Participation Loan Maximum Loan Amounts

Real Estate and renewable energy projects - $700,000
Equipment/fixed assets- $350,000
Large-scale food/fiber processing projects-$1,000,000 (but not more than 25% of the project cost)

Interest Rates

Direct loan - 4.75% for the first 3 years, 5.25% for the next 3 years, and 5.75% for the remaining term of the loan.
Participation loan - 4.25% and the primary lender may require a loan servicing fee of up to 0.75% (maximum 5.00% for the full term of the loan)

Contact Brian Cadden at bcadden@marbidco.org or 410-267-6807 for more information.

MRBIFF Program

Aquaculture Programs

Maryland Shellfish Aquaculture Financing Fund

Low-interest loans are available to persons holding State submerged land or water column shellfish aquaculture leases (or who have applied for such leases). Funds can be used to purchase shell, seed, spat, or equipment.

Interest rate: 3.00% interest-only payments for up to the first 3 years, and 5.25% for the remaining term of the loan.

Minimum loan amount: $5,000. Maximum loan amount: $100,000.

Existing borrowers who are in good standing on making their payments and implementing their production plans will receive 25% of the principal amount of the loan forgiven for between $100,001 and $300,000 borrowed.

Shellfish Aquaculture Fund

Maryland Remote Setting Shellfish Aquaculture Loan Fund

Low-interest loans are available to persons holding a nursery permit through DNR to start or expand shellfish remote setting (nursery) aquaculture operations. Partial loan forgiveness may be available.

Interest rate: 5.25% with up to one year interest only.

Minimum loan amount: $5,000. Maximum loan amount: $30,000.

During the first year of the term of the loan agreement, only modest interest-only payments would be required; thereafter, regular amortizing loan payments would be due with the final year of loan repayments forgiven for borrowers who are in good standing on making their payments and implementing their production plans.

Remote Setting Fund

Veterinarian Assistance Loan

Please contact brawlings@marbidco.org for more information.

Veterinarian Program

Maryland Large Animal Veterinarian Assistance Loan Program

Attention licensed large animal veterinarians!

MARBIDCO has a program to help large-animal veterinarians start or expand their businesses. Applicants can apply for loans between $25,000 and $100,000, with an interest rate of 4.00%, to purchase a truck or other specialized equipment necessary for providing large animal veterinary care services in Maryland.

To be eligible for a loan under this program, a veterinarian must:

Have a license to practice veterinary medicine in Maryland issued on or after January 1, 2004;
Have clinical experience providing veterinarian care to large animals (e.g., cattle, horses, hogs, sheep, or goats);
Reside in Maryland on the date that the loan is settled; and
Agree to have a majority of their large animal practice in Maryland during the term of their loan.
Agree to provide at least 10% down payment for items being purchased with MARBIDCO loan proceeds.

Loan Terms:

For loans between $25,000 and $39,999 – 3.5 years
For loans between $40,000 and $59,999 – 4 years
For loans between $60,000 and $79.999 – 4.5 years
For loans between $80,000 and $100,000 – 5 years

Where in Maryland is MARBIDCO?

MARBIDCO's staff and Board members attend nearly a hundred events and meetings each year to support our partners in the agricultural, seafood, and forestry industries. Here are some of the conferences we recently sponsored and attended this winter and early spring.

Mid-Atlantic Women in Agriculture Regional Conference

Stevensville: MARBIDCO staffers Brittany Rawlings, Sierra Criste and Allison Roe attended the 24th annual Mid-Atlantic Women In Agriculture Regional Conference on March 5th at the Chesapeake Bay Beach Club.

Top: A workshop presented at the Women in Ag Conference.

MARBIDCO Participates in Grant and Funding Program for Farmers

Mr. Berran Rogers Jr., a MARBIDCO Board member and the Project Director/Small Farm Coordinator at UMES hosted a Zoom seminar "Grant and Funding Program for Farmers" on February 19, 2025. MARBIDCO was invited to participate in the event.

Above: Allison Roe and Sierra Criste shared MARBIDCO grant and loan program information with attendees.

Maryland Farmer's Market Conference

Annapolis: MARBIDCO's Jill Zarend, Allison Roe, and Sierra Criste attended the Maryland Department of Agriculture's (MDA) Maryland Farmers Market Conference on March 11, 2025 at MDA. Presenters shared information about SNAP-ed and Maryland Market Money, two nutrition programs available for farmers to use when selling their products. Maryland Department of Agriculture Secretary Kevin Atticks was the keynote speaker.

Taste of the Eastern Shore

Annapolis: MARBIDCO staff attended the Taste of the Eastern Shore at the Graduate Hotel, organized by the Tri-County Council for the Lower Eastern Shore of Maryland in partnership with the Mid-Shore Regional Council and the Upper Shore Regional Council. This reception showcases the Eastern Shore Region to the rest of the State.

A variety of locally produced food and beverages were served.

55th Annual Taste of Maryland Agriculture

Hanover: MARBIDCO was pleased to attend and sponsor the 55th Annual Taste of Maryland Agriculture held February 6th at Maryland Live! Casino and Hotel. In attendance from the staff were Executive Director, Steve McHenry; Assistant Director, Stacy Kubofcik; Jill Zarend, Sierra Criste, and Brian Cadden.

The Taste of Maryland Agriculture celebration, sponsored by the Maryland Agriculture Council, is the State’s premier agricultural event, bringing industry leaders together with state and federal legislators.

The event featured Maryland agricultural food and beverage products served throughout the evening.

Governor Wes Moore inducted the Deford Family of Baltimore County into the Governor’s Agriculture Hall of Fame during the event. In addition to the GHOF induction, 11 programs received Maryland Agriculture Council Educational Grants.

27th Annual Southern Maryland Reception

Annapolis: This event is a cooperative effort with the Calvert, Charles, and St. Mary’s Chambers of Commerce, the Southern Maryland Minority Chamber of Commerce, the members of the Southern Maryland Economic Development Association, the Southern Maryland Delegation, and the Tri-County Council of Southern Maryland. This reception showcases the Southern Maryland Region to the rest of the State. Attendees feasted on locally harvested and prepared foods.

Above: MARBIDCO'S Brian Cadden enjoys fresh shucked oysters at the Southern Maryland Reception.

RMC Celebrates Maryland Day

Annapolis: MARBIDCO proudly served Urban + Ade, an herb-infused lemon beverage from Evensong Farm in Sharpsburg at the Rural Maryland Council's Maryland Day in Annapolis. With the help of grants and loans, including MARBIDCO’s Maryland Value Added Producer Grant (Capital Assets Option), Pandemic Adjustment Equipment Grant, and Pandemic Adjustment Loan Fund Program, funding was made available for essential on-farm production equipment and capital assets, aiding in the growth of new products like Urban + Ade. The day offers legislators an opportunity to meet with agricultural organizations and enjoy a locally prepared bagged lunch.

Above photo (left to right): Maryland Department of Agriculture Secretary Kevin Atticks, MARBIDCO Executive Director, Steve McHenry and Communications Specialist Jill Zarend.

MARBIDCO WEBSITE https://www.marbidco.org/

We hope you will visit our website frequently to discover our many programs and financing opportunities.

Upcoming Agricultural Event

DCA Booster BBQ!

Share your business or services with nearly 750 poultry industry community members as a sponsor or enjoy the event as an attendee of the Delmarva Chicken Association's 2025 Booster BBQ, scheduled for Wednesday, June 4th from 5 – 8 p.m. at the Delaware State Fairgrounds Quillen Arena.

Enjoy great food, fun games, fellowship and the chance to network and showcase products or brands to attendees.

Registration information here.

Online sponsorship registration form here.

MARBIDCO is a nimble, quasi-governmental financial intermediary organization that has a mission to serve exclusively the commercial farming, forestry, and seafood industries of Maryland. Young and beginning farmers are a special focus for MARBIDCO, as is farm operation diversification. Since 2007, MARBIDCO has approved some 1,444 financings totaling more than $112.7 million for food and fiber business projects located in all of Maryland’s counties – and in the process has leveraged more than $237.4 million in commercial lender financing.

For more information call us at 410-267-6807 or by email at info@marbidco.org or visit our website www.marbidco.org

MARBIDCO offers funding programs for assisting with purchasing farms and real estate, programs for forestry businesses, commercial watermen, shellfish aquaculture, and seafood, plus grant incentive programs, local and regional sponsored programs, and additional loan programs.

For more information about MARBIDCO financial programs, please click below for our MARBIDCO Program Summary PDF.

Program Summary