Business Loans in Maryland

Maryland's economy benefits enormously from its proximity to Washington D.C. and its own diverse economic strengths. The federal government and defense contracting are major drivers, with agencies like the National Security Agency (NSA), National Institutes of Health (NIH), and Goddard Space Flight Center located in Maryland. The state's cybersecurity industry is particularly strong, centered around Fort Meade and the NSA corridor. Baltimore, the state's largest city, has a revitalized Inner Harbor, a world-class healthcare sector led by Johns Hopkins Hospital and University of Maryland Medical Center, and a growing technology and life sciences ecosystem. Maryland's biotech and pharmaceutical sectors benefit from proximity to NIH and FDA, making it one of the top states for life sciences research and development. The Port of Baltimore is the nation's largest roll-on/roll-off port, driving trade and logistics. Maryland's approximately 590,000 small businesses operate in one of the wealthiest states in the nation, with the highest median household income in the U.S. The Maryland Department of Commerce offers the Maryland Economic Development Assistance Authority and Fund (MEDAAF), the Small Business Surety Bond Program, and the Advantage Maryland program providing tax credits for businesses creating jobs in Opportunity Zones.