866-920-8185 Facebook
BusinessPersonalOnline

Blog

Selecting a Lender for Your Maryland Commercial Construction Project

March 19, 2015

Selecting a lender to finance your Maryland commercial construction project doesn’t have to be daunting. As long as you carefully research several banks, considering services offered and areas of expertise, you’ll find the one that best fits your needs and goals. Here’s what to look for: Local Banks Local banks are the best option for securing financing. They are more likely to specialize in small- to medium-sized business (SMB) lending than national banks and are often willing to take on complex and potentially risky commercial development ventures. They are also more concerned about customer retention and community impact than national …

Read More

Maryland Business Tax Credits and Incentives for the 2015 Filing Season

It’s tax season in Maryland! Here’s what you need to know about Maryland business tax credits and incentives for the 2015 filing season. Who Must File All corporations and associations with income allocable to the State of Maryland are required to file an income tax return with the state on Form 500. The corporate tax rate is 8.25% of the net income allocable to Maryland. When and How to File Business income tax returns for the year 2014 must be filed by the 15th day of the third month following the close of the taxable year or period, or by …

Read More

5 Benefits to Building a Relationship with your Maryland Loan Officer

January 30, 2015

Small business owners interested in securing a commercial loan can expect to receive advice from numerous professionals. Of nearly all advice received, however, none is as undervalued and underemphasized as the need to build a relationship with your loan officer. While it may seem insignificant, it can drastically impact the direction and speed at which your company grows. Here are five great reasons to get to know your loan officer and build a solid professional relationship with him and the bank he represents. Small Business Advice Loan officers at banks have seen it all, and after years of approving business …

Read More

Cash Flow Management Techniques – Manage a Crisis

October 8, 2014

If there’s one thing that can derail a business, it is not using  the correct cash flow management techniques during a crisis. In fact, not effectively managing cash flow is one of the main reasons that almost two thirds of small businesses end up closing their doors within two years (even if they’re recording a profit on the books), according to the U.S. Small Business Administration. So how can a small business learn from the cash management mistakes of others? We took a look at the cash flow management techniques that made some small businesses succeed with their cash flow, …

Read More

How to Setup Maryland Merchant Credit Card Processing

September 8, 2014

Setting up Maryland merchant credit card processing can be a major source of growth for many businesses.  In fact, it may soon be the only acceptable way to take payment. In 2011, according to a study conducted by Javelin Strategy & Research only 27% of transactions in the US were conducted with cash. By 2017, that number is projected to decline even further, to 23%. Cash, once the king of retail transactions, is now taking a backseat to online credit card processing. The rise of online credit card processing and the decline of cash leaves many small businesses wondering what exactly …

Read More

How to Get a Maryland Business Line of Credit to Finance Growth

August 27, 2014

Managing a small business growth spurt is a challenging experience for business owners. Oftentimes an initial cash outlay is needed to take advantage of growth opportunities—whether it’s increasing manufacturing, hiring more employees, or investing in new ideas and new products. While company growth is a good thing, the popular aphorism “it takes money to make money” still rings true. In order to finance growth, many business owners turn to a business line of credit to help them through inevitable financial pains that can be a result of quick company growth. What is a Business Line of Credit? A business line …

Read More

5 Ways to Increase Your Line of Credit in Maryland

August 12, 2014

For many Maryland small businesses, securing a business line of credit is a considerable milestone.  As a business matures, however, it may become clear that the initial business credit line isn’t able to keep up with the growing need for financing. Here are a few ways Maryland small business’s can increase their line of credit. Increase Your Line of Credit with Additional Collateral The easiest way to get a credit limit increase on a business line of credit is to offer up additional collateral. Additional collateral for the purpose of business financing may include: real estate, equipment, inventory or assignment of …

Read More

What is a Standby Letter of Credit and How Are They Used?

July 29, 2014

One of the least understood but most powerful small business financing tools is the standby letter of credit. While it’s used fairly extensively by larger companies, many small business owners frequently wonder what a standby letter of credit is, and aren’t aware of how it can help them and their enterprise succeed. What is a Standby Letter of Credit? A standby letter of credit, or SLOC, is at it’s core a loan of last resort and a type of warranty for financial contracts. It is issued by your business bank at the beginning of a contract, and acts as a …

Read More

Local Banks V. National Banks for Commercial Mortgages in Maryland

July 15, 2014

Getting a commercial mortgage loan in Maryland can seem daunting, especially for small business owners who are just setting foot in the commercial real estate market for the first time. One of the biggest causes for stress is simply the fact that for many people, a commercial mortgage is the single largest loan they will ever take out in their lives. More than that, however, the process of obtaining a commercial real estate loan can be convoluted, long, and very involved. Local Banks v. National Banks One way to make the process much easier is to get your loan from …

Read More

4 Things You Should Know About Your Equipment Term Loan

June 18, 2014

Equipment purchases are a vital part of starting a small business in Maryland, especially for manufacturing and retail companies. They can also be necessary investments once your business is up and running. Equipment updates and modernizing old equipment can make your business more productive, efficient, and even save you money in the long haul. Equipment, however, is a significant investment and very few small businesses have the cash on hand needed to outright purchase large scale equipment. With costs that can easily run into the hundreds of thousands of dollars, finding a way to finance equipment purchases is something that …

Read More

Please Note: You may have disabled JavaScript and/or CSS. Although this news content will be accessible, certain functionality is unavailable.
QuickBank Quick Bank Deposit checks from the convenience of your own desktop and eliminate multiple trips to the bank. It's easy, fast, and secure. More
Free ATMs Free ATMs There's no charge to use a Revere Bank ATM or any of the 37,000 ATMs in the Allpoint network across the country. More