Maryland Capital companies, Inc. (MCE) provides small business loans to companies situated in MCE’s Service region: Wicomico, Worcester, Somerset, Dorchester, Talbot, Caroline, Queen Anne’s and Kent counties regarding the Maryland’s Eastern Shore and in addition Baltimore City, Anne Arundel and Baltimore counties.
Our objective would be to help companies that offer a site or product towards the community that is surrounding assistance companies start their doorways and offer these with company training and mentoring needed seriously to succeed.
That is qualified?
- A for-profit that is start-up owner with 10 or less workers
- Has attempted to receive that loan through a conventional loan provider or a bank
- Located within MCE’s solution area in the list above
- Will need to have an obviously founded business concept and company plan (MCE will help develop business strategy)
- Power to create full-time and/or employment that is part-time low to moderate-income residents
- Must certanly be a U.S. resident or alien that is legal
- Must show capacity to repay loan
- Will need to have reasonable credit score and re re payment documents
Terms and costs
- Loans for just about any quantity from $5,000 to $35,000
- As much as a decade
- Rate of interest from 6% to 12percent
- 1% closing cost regarding the loan quantity
- Legal Reserve Fee ($250 – $1,000)
- $100 Non-refundable Application Fee
- $15 Credit Report Fee per applicant (non-refundable)
- MCE will conduct semi-annual site visits to your online business
- No costs or penalties for very early payment
- Safety can be required as much as the amount that is full of loan
- Applicants needs to be single proprietors, partnerships or corporations