Program Overview
MARBIDCO offers this affordable loan program to meet the unique financing needs of Maryland landowners wanting to establish or expand vineyards, orchards, and hop yards.
A major aim is to increase viable commercial acreage in Maryland. MARBIDCO provides low-cost financing with a private commercial lender. The Maryland Wineries Association and Maryland Grape Growers Association support the program.
Eligible Expenses
The requested financial assistance from MARBIDCO must relate to the installation of new vineyards, tree fruit orchards, or hop yards, including, but not limited to:
Tractors, pickup trucks, and winemaking equipment are not eligible under this program, but may be eligible under MRBIFF and the Agribusiness Equipment and Working Capital Loan Fund.
$10,000
Minimum loan
$100,000
Maximum loan
1%
Origination fee
10%
Typical equity requirement
Loan Terms and Conditions
Option 1
5.00% for the first three years, then 6.25% for the remainder of the loan term.
Option 2
6.25% fixed for the full term, with interest-only payments permitted during the first three years.
Commercial Lender Participation
Required. A commercial lender must provide a letter of referral.
Collateral and Servicing
MARBIDCO makes and services all loans. All loans must be fully collateralized.
Application Deadlines and Submission
Originate application
The applicant must originate all applications. Business professionals may assist.
Review
Financial viability is reviewed by agricultural lenders and operational viability by industry or university experts..
Submit application
Applications are reviewed as received and typically take 3–4 weeks. Send to:
MARBIDCO Loan Programs, 1410 Forest Drive, Suite 21, Annapolis, MD 21403, or info@marbidco.org.
Equity Incentive Program
The Upper Shore Regional Council and MARBIDCO offer a 5% equity contribution toward eligible loans for farmers in Cecil, Kent, and Queen Anne's counties, up to the applicable program maximum.