Some small- and minority-owned businesses in Maryland will be able to get some investment help from the state.

That’s because Gov. Wes Moore announced that the $3 million in financial help, which his office said, will help small- and minority-owned businesses create 72 new jobs and retain 28 more.

It’s part of an investment created by the DECADES Act passed by the General Assembly earlier this year.

The money can be used to help those businesses buy new equipment, purchase real estate and fund working capital.

Moore said in a statement that the state “must ensure that every entrepreneur has a fair shot at success.”

“This investment through the Maryland Small Business Development Financing Authority, bolstered by the DECADE Act of 2026, is a testament to our commitment to creating equitable pathways to work, wages, and wealth for our small and minority-owned businesses,” the governor added.

In the fiscal years between 2021 and 2025, the state’s small business development financing authority helped 2,450 jobs by utilizing $33 million in loans and equity investments, Moore’s office said in a release.

State Commerce Secretary Harry Coker Jr. said “Maryland is focused on creating an equitable, robust, and competitive economy,” which he said starts with supporting small businesses.

“We’re grateful to these small businesses for creating new job opportunities in Maryland and look forward to watching them grow throughout the state,” Coker Jr. said.

Get breaking news and daily headlines delivered to your email inbox by signing up here.

© 2026 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.