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 regarding the Maryland’s Eastern Shore as well as Baltimore City, Anne Arundel and Baltimore counties.
Our objective is always to help companies that offer a site or item into the surrounding community, assistance businesses start their doorways and supply all of them with company training and mentoring needed seriously to be successful.
Who is eligible?
- A for-profit that is start-up owner with 10 or less employees
- Has attempted to receive that loan via a conventional loan provider or a bank
- Positioned within MCE’s solution area mentioned above
- Will need to have a demonstrably established company business and idea plan (MCE will help develop business plan)
- Power to create full-time and/or part-time work for low to moderate-income residents
- Should be a U.S. citizen or appropriate alien
- Must demonstrate capability to repay loan
- Need reasonable credit score and re re payment records
Terms and costs
- Loans for any quantity from $5,000 to $35,000
- As much as ten years
- Rate of interest from 6% to 12percent
- 1% closing cost associated with 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 semi-annual website visits to your online business
- No expenses or charges for very early payment
- Protection can be required as much as the amount that is full of loan
- Candidates needs to be single proprietors, partnerships or corporations