I get a loan for my business?
There are a number of resources available when it comes
to getting a loan for your business. Local lenders such
as banks have loan programs. You can also look into federal
lenders, SBA- Small Business Administration or State Lenders
like DEBED Maryland Department of Business and Economical
Development. For additional information go to our financial
assistance section of our website.
do I incorporate my business?
The first step your incorporating your business is choosing
your businesses entity. There are several forms the most
common are, sole proprietor ships, partner ships, limited
partner ships, limited liability companies and corporations.
Select a state in which to incorporate. Select and reserve
a corporate name. Decide on classes of stock. Choose directors
for your corporation. Select a registered agent for your
corporation. Prepare your articles of incorporation. This
and more information can be found in the small business
resource centers library. Or, go to our business assistance,
starting your own business section of our website.
do I start a non-profit business?
You should have a core group of people committed to a common
purpose and who understands how they will establish the
organization and raise money to carry about the planned
activities. The group should develop a base-working plan
for the organization or project by setting its goal, planning
activities ad developing a fund raising plan. For more detailed
information log on to www.mdnonprofit.org.
do I find a Micro-Loan?
There are several lenders available for micro-loan information.
The SBA (federal) has a 7 (m) micro loan program. This micro
loan program provides small loans ranging form under $500
to $35,000. For more info on this micro loan contact The
Community Lending Group C/O Development Credit Fund, Inc.