Maryland Capital companies, Inc. (MCE) provides business that is small to companies situated in MCE’s provider region: Wicomico, Worcester, Somerset, Dorchester, Talbot, Caroline, Queen Anne’s and Kent counties associated with 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 item into the community that is surrounding assistance organizations open their doorways and supply them with company training and mentoring needed seriously to be successful.
That is qualified?
- A for-profit that is start-up owner with 10 or less employees
- Has attempted to receive a loan via a old-fashioned loan provider or a bank
- Positioned within MCE’s solution area mentioned above
- Need an obviously founded business concept and company plan (MCE can help develop business plan)
- Power to create full-time and/or employment that is part-time low to moderate-income residents
- Must certanly be a U.S. citizen or appropriate alien
- Must show capability to repay loan
- Will need to have credit that is reasonable and payment documents
Terms and charges
- Loans for almost any amount from $5,000 to $35,000
- As much as a decade
- Interest from 6% to 12per cent
- 1% closing cost regarding 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 company
- No expenses or penalties for very very early payment
- Protection can be required as much as the amount that is full of loan
- Candidates should be proprietors that are sole partnerships or corporations