Maryland Capital Enterprises pitches microloans, business coaching to Kent County entrepreneurs

Bernard Carter, a representative of Maryland Capital Enterprises, told the Kent County Economic Development Commission on Jan. 31 that the nonprofit offers microloans, complimentary business-plan assistance and follow-up support to startups and existing small businesses across Maryland’s Eastern Shore and parts of the Baltimore region.

Carter said MCE caps individual loans at about $150,000, but “when it does, though, come to a start up, normally, our practices have been where we only lend up to $35,000.” He said the organization operates a Women’s Business Center that provides templates and no‑cost coaching to help applicants build business plans and financial projections.

The presentation matters because MCE’s products and services can provide capital and technical support to entrepreneurs who do not qualify for traditional bank lending. Commission staff and members said they would work with MCE to schedule local outreach and referrals so Kent County businesses can apply.

Carter described MCE’s underwriting and support process: a three‑tier online intake, a personal supplement and a full business loan application with uploads for bank statements and plans, after which packaged requests go to a loan committee made up of civic leaders, bankers and business owners. “We look at the total picture based upon where the individual is, you know, from their credit all the way through to where they are finding their answer,” Carter said. He added MCE performs a three‑month follow-up after funding and a six‑month review in the field for successful borrowers.

Carter said MCE’s capital sources include a video lottery terminal (VLT/BLT) allocation that can be awarded as a $1,000,000 grant spread over two to five years, relationship funding with the Small Business Administration (MCE is a certified SBA microorganization), and participation with U.S. Department of Agriculture programs that can act as guarantors for loans. He said MCE’s available capital is approximately $4.2 million and typical interest rates are competitive, “anywhere on the, what I would say, low end of 6% up to, you know, 12% plus,” with repayment terms from about two to ten years depending on loan size.

Commission members and staff asked how many loans MCE makes annually and how many recipients are startups. Carter estimated the organization reviews and processes “anywhere from 50 to 150 annually” and that about 35–45% of recipients are startups; he estimated that roughly 50–55% of startups remain in business for two years.

County staff present said they already refer entrepreneurs to MCE’s website and intake form and asked for help coordinating an in‑county visit so the MCE representative can meet applicants face to face. Jamie (county contact) and Katie (staff member) were named as local points of contact during the discussion; the commission indicated staff should coordinate a half‑day visit and pre‑register participants so MCE’s time in county is productive.

Commissioners and staff also noted MCE provides free webinars, templates and a Women’s Business Center that can help prospective borrowers who initially take a fact‑finding approach rather than immediately applying for financing. That supportive training was framed as a major reason many referrals do not proceed: applicants often start but do not follow through to complete the business plan and loan materials.

Commission staff said they would continue to refer businesses to marylandcapital.org and to work with MCE on local outreach and scheduling.

Ending: Staff asked the commission to forward referrals to Jamie and Katie and to help publicize MCE’s upcoming visit; the commission’s staff will coordinate logistics and preregistration.