Business Expansion Deferred Loan Program (BEDL)

The Business Expansion Deferred Loan Program (BEDL) provides forgivable loans to small for-profit businesses looking to expand or establish themselves in Allegany County. Loans range from $10,000 to $50,000 at interest rates better than traditional lenders. Up to 50% of the loan can be forgiven based on performance metrics defined by the applicant, such as job creation or increased export capacity. Payments can be deferred for up to six months after loan draw. The program supports businesses...