Maryland Capital companies, Inc. (MCE) provides business that is small to organizations positioned in MCE’s provider region: Wicomico, Worcester, Somerset, Dorchester, Talbot, Caroline, Queen Anne’s and Kent counties associated with Maryland’s Eastern Shore as well as Baltimore City, Anne Arundel and Baltimore counties.
Our goal is always to help companies that offer a site or item to your community that is surrounding assistance companies open their doors and offer these with company training and mentoring needed seriously to be successful.
That is qualified?
- A start-up for-profit business owner with 10 or less workers
- Has attempted to receive that loan by way of a conventional loan provider or a bank
- Found within MCE’s solution area in the above list
- Should have a plainly founded business business and idea plan (MCE can help develop business plan)
- Capacity to create full-time and/or part-time work for low to moderate-income residents
- Must certanly be a U.S. citizen or appropriate alien
- Must demonstrate capability to repay loan
- Should have credit that is reasonable and re payment documents
Terms and costs
- Loans for almost any quantity from $5,000 to $35,000
- As much as ten years
- Rate of interest from 6% to 12per cent
- 1% closing cost for the loan quantity
- Legal Reserve Fee ($250 – $1,000)
- $100 Application that is non-refundable Fee
- $15 Credit Report Fee per applicant (non-refundable)
- MCE will conduct site that is semi-annual to your organization
- No expenses or penalties for early repayment
- Safety could be required as much as the complete level of the loan
- Candidates should be single proprietors, partnerships or corporations