Are you a small business owner in Baltimore County looking for a loan? You're not alone. Many entrepreneurs in the area are turning to traditional lenders, such as banks, as well as non-traditional online lenders, nonprofit organizations, and government programs to find the capital they need. In this article, we'll explore some of the best options for small business loans in Baltimore County. When it comes to finding the right loan for your small business, it's important to do your research and explore all your options.
There are a variety of traditional and non-traditional lenders available in Baltimore County that can provide the capital you need. Howard Bank, M&T Bank, and The Harbor Bank of Maryland are all great options for small business loans in Baltimore County. In partnership with Baltimore County, these qualified institutions can create rental assistance programs for businesses moving to their designated area. Additionally, this local commercial lender has a couple of branches in Baltimore City and several more in Baltimore County.
Another lender to consider when looking for business loans in Baltimore is this BBB-accredited bank, which has an A+ rating. Customers say this lender has a team that exceeds expectations, but the company could be more transparent about fees. While account holders have long recommended the service, startup owners say they have difficulties with the lender. Baltimore County offers a variety of direct funding programs and tax credits to help grow your business, encourage investment and job creation in the county.
Baltimore County is also a foreign trade zone (FTZ) designated for companies involved in international trade. There are also a growing number of loan options for nonprofit organizations in the area, such as programs from the Maryland Small Business Development Finance Authority, the Baltimore Development Corporation, and Baltimore Business Lending. In operation for more than a century, M&T is another source when looking for small business loans in Baltimore, Maryland. While Baltimore customers have long recommended the service, startup owners say they have difficulties with the lender.
A study conducted by the 21st Century Cities Initiative at Johns Hopkins University shows that Baltimore has fewer commercial lenders than many other cities of similar size, which has slowed development. When searching for small business loans in Baltimore County, it's important to consider all your options. Traditional lenders like banks can provide capital but there are also non-traditional online lenders, nonprofit organizations, and government programs available that can help you get the funding you need.
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