Maryland Business Loans

Maryland has a diverse economy that relies on a verity of industries and businesses. Maryland is dependent on industries such as agriculture, manufacturing, and fishing to supply jobs and revenue to the state. With its geographic location on the east coast there is an abundance of opportunities for small businesses to flourish. SMB Compass provides business loans in Maryland to a wide range of different industries and business to help the continued growth of the local economy.

Annapolis, the capital of Maryland is the home to the Naval Academy and helps support the state’s economy. There are also a lot of major corporations located in Maryland that provide a large amount of jobs and revenue for the state. Marriot, Lockheed Martin and the Social Security Administration are some of the top revenue producing companies in Maryland. These large companies hire small businesses to complete projects and carry out services. These small businesses may have the capability to complete the project but need business financing to cover expenses and inventory. Small business loans in Maryland provide businesses with the proper financing to execute on jobs and projects. When opportunities arise, smart businesses owners are prepared with financing to take advantage of these opportunities.

Manufacturing and agriculture play a crucial role in the local economy and is a major source of revenue. Maryland manufactures a large variety of products but is reliant on products such as automobile parts, printing, food processing, machinery, and chemicals. Although products are manufactured all throughout the state, roughly one third of the state’s manufacturing is done in Baltimore.
Beyond the manufacturing industry the agriculture industry is also vital to the state’s economy. Livestock accounts for the majority of state’s agriculture economy and provides opportunities for small businesses. In Maryland, broilers, greenhouse, and nursery products are a key source of revenue. Small business loans in Maryland allow businesses to purchase machinery and inventory.