Anne Arundel Economic Development Corporation (AAEDC)

Funding, guidance and connections for Anne Arundel County businesses

Government AgencySuburban Maryland

About Anne Arundel Economic Development Corporation (AAEDC)

What it is

The Anne Arundel Economic Development Corporation (AAEDC) is the economic development organization for Anne Arundel County, Maryland, based at 2660 Riva Road in Annapolis. Its stated mission is to foster diverse economic growth by empowering businesses, expanding job opportunities and revitalizing communities. It helps companies start, grow and relocate in the county.

What it offers founders

VOLT Fund: business loans of $25,000 to $500,000, or up to $1,000,000 when fully secured by commercial real estate, for small businesses including startups. Uses include equipment, leasehold improvements, real estate and startup expenses.
Next Stage Tech Fund: loans of $50,000 to $250,000 at below market rates with 1 to 5 year terms for Anne Arundel technology companies serving cybersecurity and national defense, with fewer than 100 employees and under $5 million in revenue.
IVP Business Accelerator: a free eight week virtual cohort for established small businesses, with weekly three hour classes, one on one mentorship and a closing Pitch Day.
Other support: VOLT Microloan and VOLT Growth loans, grants, PACE financing, economic development revenue bonds, site selection, market research, regulatory guidance, workforce support and government contracting help.

Who it is for

AAEDC serves businesses located in or moving to Anne Arundel County, with a focus on small, minority owned, woman owned and veteran owned firms. The VOLT Fund is also open to eligible small businesses statewide, with half of the fund targeted to areas near Maryland's casinos. The IVP accelerator is aimed at companies that have operated for at least two years and have employees, so very early startups are better matched to the loan programs, which accept startup applications with a business plan and equity injection.

How to engage or apply

Loan applications are submitted online through Submittable forms linked from each program page, such as the VOLT Fund and Next Stage Tech Fund pages. IVP requires an online application and an interview; check the IVP page for upcoming sessions. General questions go to 410.222.7410, info@aaedc.org or the contact page.

Why it matters in the DMV ecosystem

For founders in Anne Arundel County, AAEDC combines local lending, grants and hands on support in one place. Its Next Stage Tech Fund is built specifically for small technology companies serving cybersecurity and national defense, AAEDC reports more than $25 million invested, and IVP reports more than 200 graduates across 18 cohorts, including Spanish language cohorts.

Programs

VOLT Fund
Business loans of $25,000 to $500,000, or up to $1,000,000 when secured by commercial real estate, for small businesses including startups in or relocating to Maryland.
Next Stage Tech Fund
Below market loans of $50,000 to $250,000 with 1 to 5 year terms for Anne Arundel technology companies serving cybersecurity and national defense.
IVP Business Accelerator
Free eight week virtual cohort for Anne Arundel small businesses operating at least two years, with weekly classes, mentorship and a final Pitch Day. Graduates gain access to the VOLT Microloan.
VOLT Microloan
Smaller VOLT loan product; IVP graduates can access loans up to $50,000 at a fixed 2.0 percent rate.
Grants
AAEDC grant programs including ABIG and disaster relief grants for county businesses.

Who it serves

Small businesses and startups located in or moving to Anne Arundel County, including minority, woman and veteran owned firms and small technology companies serving defense and cybersecurity.

Frequently asked questions

How much can I borrow from the VOLT Fund?

VOLT business loans range from $25,000 to $500,000, or up to $1,000,000 when fully secured by commercial real estate. Typical requirements include a 640 minimum personal credit score and, for startups, a business plan and a 10 to 20 percent equity injection.

Does the IVP Business Accelerator cost anything?

AAEDC describes IVP as a free program. It runs eight weekly three hour virtual classes, with cohorts limited to 10 to 13 participants.

Who is eligible for IVP?

Businesses located in Anne Arundel County that have operated for at least two years, have employees and are in good standing with the State. Businesses in commercial space are preferred.

Can a startup apply for the Next Stage Tech Fund?

Yes, if it is an Anne Arundel technology company serving cybersecurity or national defense with fewer than 100 employees and under $5 million in revenue. Startups must provide a business plan and contracts sufficient to cover debt service.

How do I contact AAEDC?

AAEDC is at 2660 Riva Road, Suite 200, Annapolis, MD 21401. Call 410.222.7410 or email info@aaedc.org.