November 16, 2021
Small Business Loans in Maryland: How to Select a Loan
Whether you’re a current small business owner or own a startup, pursuing small business loans in Maryland can help you launch or grow your venture.
How to Use Maryland Business LoansSmall business loans in Maryland can be used for numerous purposes. Before you apply for a loan program, determine how you'll use the funds. Several common uses include:
- Everyday Operations: With a working capital loan, you can cover the cost of the operational expenses such as payroll, rent, and marketing.
- Equipment: There’s a good chance you’ll need business equipment, such as computers for your office staff, an oven for your restaurant, or a bulldozer for construction jobs. You can pay for these expenses with a loan.
- Inventory: If you’re in an industry like retail or food services, inventory will be required. A Maryland small business loan can allow you to buy it in bulk so you always have enough on-hand.
- Startup Costs: Startup costs can range from business registration and insurance to marketing and human resources. A business loan may be just what you need to get your venture up and running.