By: Maryland Capital Enterprises
Small businesses certainly face a wider range of financial problems than larger businesses. Many of the problems are caused by lack of revenue and cash flow
Limited access to capital is one of the major problems with starting and operating a business. Banks hesitate to lend to start-up businesses and prefer not to lend to businesses less than two years old. Business owners find themselves having to rely on family, credit card, loan sharks, supplier financing, etc. Or, businesses will just try operating under capitalized.
It is advised that businesses have a plan and plan to have enough cash flow to weather slow start-up, emergencies, and slow times. Finding the cash is the challenge.
Knowing the resources available in your community for your business is crucial to success. Many of these services are free and can help ease the stress that impacts many small businesses. Maryland Capital Enterprises (MCE) is one such source on the Shore.
MCE provides consulting, mentoring, training, and micro and small business loans for start- up and existing businesses on the Eastern Shore, Baltimore City, and both Baltimore and Anne Arundel Counties. The loan rates are much more reasonable than the alternative. For further information call 410-546-1900 or visit us at marylandcapital.org.
