Options for Small Business Financing in Maryland

Small businesses contribute enormously to Maryland's economy. According to a recent U.S. Small Business Administration (SBA) Office of Advocacy report, statistics show that there are close to 580,000 small businesses in the state, which employ half of Maryland employees, and comprise close to 100% of all business activity.

Not only is Maryland a great place for entrepreneurs to operate small businesses, but it’s also ranked among the nation’s top ten states for start-up survival rates.  In order to thrive, these business owners must have access to working capital so they can achieve their financial goals and grow the economy.

What Are Some Financing Resources in Maryland?

You can also access a handy Maryland Finance Tracking Tool, an easy-to-use document containing the past distribution of business grants, tax credits, equity investments, and loans. You can sort by company, amount, location, or program to find the information you need.


What Are My Funding Options?

There are a number of steps involved in starting a new small business in Maryland, and a variety of funding options to investigate. Before you start applying, you should first be clear on the difference between a grant and a loan.  Small business grants are funds that don’t need to be paid back. Small business loans are processed through a bank or other financial institution, and any capital must be repaid.

Loans offered by the Small Business Administration (SBA), such as the 504 loans administered by 504 Capital Corporation, an SBA CDC serving Virginia, North Carolina, and Maryland, can be extremely useful for small business financing. The 504 Loan Program provides long-term, fixed-rate financing in support of community businesses and creating jobs in the community.

If you’re interested in applying for a 504 loan, contact a Certified Development Company(CDC) which are certified and regulated by the SBA. These SBA-certified and regulated organizations partner with private lenders.to provide 504 loans to small businesses.

What’s Necessary to Qualify for a Maryland Small Business Loan?

No matter which state you choose to operate your small business in, determining whether or not you’re eligible for financial assistance will depend on a number of different factors. Lenders will always review how long you’ve been in business, your credit rating, annual revenue, and any previous or existing loans. Essentially, based on the information you provide, the lender will determine how much of a risk you might be regarding your ability to repay a loan.

If you’re looking for the top SBA lenders in Maryland, 504 Capital Corporation is a certified SBA CDC dedicated to providing 504 loan assistance in Virginia, North Carolina, and Maryland. We work with small business owners, banks, credit unions, and commercial lending companies to get them the needed capital so businesses can grow to their full potential.

To begin fulfilling your financing goals, get in touch with us. Call us at 240-638-2713.
Location: 8403 Colesville Rd #1100, Silver Spring, MD 20910, USA

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