Harvest Howard County Magazine

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7 harvest
MARBIDCO Has Assisted Some of
Your Farm Business Neighbors…
Can We Help You, Too?
Did you know MARBIDCO has assisted with
financing more than a dozen Howard County farm-
related businesses, often by working in collaboration
with the Howard County Economic Development
Authority?
Since its inception in 2007, MARBIDCO has funded
over 350 farm and rural business projects in almost
every county inMaryland. Additionally, MARBIDCO has assistedmore than
160 young and beginning farmers (many with helping to purchase their first
farms); supported the implementation of almost 140 on-farm value added
processing projects; and, helped State and county governments to preserve
rural working land through bond finance programs.
MARBIDCO’s popular business lending program, the Maryland Resource-
Based Industry Financing Fund (MRBIFF), helps meet the unique financing
needs of Maryland farm, forestry and seafood businesses. Young and
beginning farmers are a special focus of this program. The maximum loan
amount is $250,000 for acquisition of equipment and fixed assets, $450,000 for
real estate purchases, food/meat processing and renewable energy projects,
and $650,000 for large-scale food/fiber processing projects (of $2.5 million
and up). A matching Farm Credit, commercial bank, or county agency
participation is required.
To find out how MARBIDCO programs can help with your farm or forestry
business financing projects, please contact us at (410) 267-6807, or visit us on
the web at .
Pictured are two examples of the matching grants made by
MARBIDCO and the Howard County Economic
Development Authority using the Local Government Ag/RBI
Cost Share Program. At left: The on-farm meat freezer at
Clark’s Elioak Farm. Above: Heritage Hills’ compost turner.