One source of financing for those in the agriculture business is MCE (Maryland Capital Enterprises, Inc.), a Salisbury-based small business assistance non-profit that is funded by the Department of Agriculture to provide business loans. The organization assists businesses on Maryland’s Eastern Shore with business loans, education. and consulting. Loans can range from $500 to $5,000 for emergency loans or credit builder loans, from $5,000 to $50,000 for micro-loans, and from $5,000 to $250,000 for other small businesses. Although MCE can lend to farms, most of its loans have been for farm-related businesses like marketing seafood or produce, farmer’s markets, manufacturing farm products, and getting products to market. The organization collaborates with banks, MARBIDCO (Maryland Agricultural & Resource-Based Industry Development Corp.), The UMES Rural Development Center, Extension Service, and others to provide assistance. For more information, contact MCE at 410-546-1900 or info@marylandcapital.org.
