Next Stage Fund

Program Type: Zero percent loans for small businesses

Overview:
The Next Stage Fund is a signature component of AAEDC's Arundel Defense Tech Toolbox, designed to assist technology companies at the mezzanine stage of growth—businesses that have launched, invested in themselves at the early stage, achieved initial success, and need support to scale up.

Award Details

• Loan Amount: $50,000 to $250,000
• Interest Rate: 0%
• Repayment Terms: Flexible payment terms between 1 to 5 years, structured to accommodate company cash flow

Eligibility

• Geographic Scope: Anne Arundel County (businesses must be located in the county or have a signed lease demonstrating intent to move into the county)
• Industry Focus: Technology sector companies, particularly those supporting defense/cybersecurity
• Business Size: Gross revenue of less than $5 million and fewer than 100 employees
• Business Stage: Mezzanine stage companies with demonstrated initial success

Focus Areas

The Arundel Defense Tech Toolbox (which includes this fund) targets technology companies in sectors including:

• Cybersecurity
• Defense technology
• Information technology and security
• AI and machine learning
• Federal contracting-relevant technologies

Additional Resources in Arundel Defense Tech Toolbox

• Workforce Training Grant Program: Reimbursable grant of up to $1,000 per employee
• Complimentary Consultations: Expert advice in commercial technology marketing, federal contracting, and intellectual property
• Runway to Success Program: Travel awards through Southwest Airlines for sales, marketing, and employee training opportunities

Contact Information

Anne Arundel Economic Development Corporation

• Address: 2660 Riva Road, Suite 200, Annapolis, MD 21401
• Phone: 410-222-7410
• Email: [email protected]

Application Process

Application details for the Next Stage Fund are not extensively documented in the provided materials. However, the following information is available:

1. Initial Consultation: Businesses should contact AAEDC's financial services team with a business plan
2. Underwriting Process: The AAEDC finance team will:
   • Complete site visits
   • Compile market research
   • Underwrite the completed loan application
3. Approval: Final approval is granted upon successful underwriting

Required Materials

Specific required documents are not detailed in the provided materials, but applicants should be prepared to submit:

• Business plan
• Financial information
• Details demonstrating mezzanine-stage growth status

Contact for Application Information

Anne Arundel Economic Development Corporation

• Phone: 410-222-7410
• Email: [email protected]
• Address: 2660 Riva Road, Suite 200, Annapolis, MD 21401