Small Business Loans (Start-Up, Expansion, Credit Builder)

About this programme

Maryland Capital Enterprises (MCE) is a nonprofit lender that has worked to build communities by supporting local small businesses since 1998. It describes itself as the only microenterprise organization in Maryland certified as an SBA, USDA, and CDFI intermediary lender, and it provides counseling and helps develop business plans for over 100 entrepreneurs a year.

MCE lends in the Eastern Shore of Maryland, Baltimore City, and surrounding counties, and its site lists three loan categories: Start Up Loans, Expansion Loans, and Credit Builder loans, each aimed at a different stage of a business's life.

How it works

Start Up Loans run $5,000 to $35,000, with terms up to 10 years and interest rates of 6% to 12%. Fees include a 1% closing fee, a $250 to $1,500 legal reserve fee, a $100 non-refundable application fee, and a $25 non-refundable credit report fee per applicant, with no prepayment penalty.

Expansion Loans run $5,000 to $50,000, also with terms up to 10 years, interest rates of 6% to 12%, and the same fee structure as Start Up Loans.

Credit Builder loans are smaller: $500 to $2,500 over a 12-to-18-month term, or $2,501 to $5,000 over a 12-to-36-month term. Interest rates vary by risk and loan size. Fees are a $50 non-refundable application fee, a $25 non-refundable credit report fee per applicant, and a $50 closing fee for underwriting. Credit Builder loans are typically unsecured, though security may be required up to the full loan amount, and MCE conducts semi-annual site visits to funded businesses.

For Start Up and Expansion Loans, security may be required up to the full amount of the loan, drawing on business assets, personal guarantees, equipment, vehicles, real estate, or life insurance.

Who can apply

MCE targets under-banked and under-served entrepreneurs in the Eastern Shore, Baltimore City, and surrounding counties.

Start Up Loans: the business must be a start-up for-profit with 10 or fewer employees, have an established business idea and business plan, have already attempted traditional bank financing, be able to create jobs for low-to-moderate income residents, and the owner must be a U.S. citizen or legal alien with reasonable credit and demonstrated repayment capacity.

Expansion Loans carry the same base criteria as Start Up Loans, plus the business must already be operating for at least 2 years and provide 2 years of tax returns.

Credit Builder loans are open to sole proprietors, partnerships, or corporations operating in MCE's service area, which for this product includes the Eastern Shore counties, Baltimore City, Anne Arundel County, and Baltimore County.

How to apply

1. Schedule an appointment with an MCE Loan Officer to start the process.
2. Prepare the loan application packet; MCE advises allowing 1 to 2 months to gather documentation.
3. Submit the completed application packet.
4. MCE's Loan Committee reviews the application and makes a decision on its meeting day.
5. If approved, closing typically occurs 2 to 4 weeks later.

Documents you’ll typically need

• Business plan
• 2 years of tax returns (for Expansion Loans)
• Loan application packet (via MCE's client intake process)

Frequently asked

More funding in Maryland

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Reviewed 2026-09-25. Programmes change, so check eligibility, amounts and deadlines on the official page before you apply. CapEasy is a private firm and is not part of any government body.