Starting a lending business in Baltimore County requires a consumer loan license, which is granted under the Maryland Consumer Loan Act. This license is necessary for the chief executive position of any person, and more detailed information can be found on the NMLS Resource Center. Additionally, there are many resources available to help entrepreneurs get started, such as the Maryland Entrepreneur Center, Small Business Administration, and Baltimore County Public Library. The Maryland Small Business Development Financing Authority (MSBDFA) provides assistance to small businesses that are unable to obtain adequate funding through normal channels.
The Small Business Administration (SBA) also offers online learning programs to help small business owners every step of the way. Baltimore County is proud to have one of the best small business resources in the state of Maryland. The Small Business Administration and Maryland Business Express provide templates and resources to help you get started. Visit the Maryland Entrepreneur Center and Small Business Administration to find virtual and in-person events in your area.
The Baltimore County Public Library offers a wide variety of resources to help you research your target market and demographics. MSBDFA customers include all small businesses that are unable to obtain adequate business funding on reasonable terms through normal funding channels. More than 11,000 volunteer executives and business owners donate their time and experience as business advisors. Maryland Business Express offers a comprehensive licensing portal with information about the permits and licenses you may need to start, relocate, or expand a business in Maryland. Uniquely positioned to help potential entrepreneurs start a business, the Small Business Action Team (SBAT) offers help to new and existing companies with technical, financial, and marketing strategies. The Small Business Administration (SBA) offers online learning programs designed to empower and educate small business owners every step of the way.
Baltimore County works with many business development organizations to help you connect with the right people. Starting a lending business in Baltimore County can be an exciting venture for entrepreneurs. With the right resources and regulations in place, it can be a successful endeavor. The NMLS Resource Center provides detailed information about obtaining a consumer loan license, while the Maryland Entrepreneur Center, Small Business Administration, Baltimore County Public Library, MSBDFA, Maryland Business Express, and SBAT offer invaluable resources for entrepreneurs looking to start their own lending business. Additionally, the Small Business Administration provides online learning programs that can help small business owners every step of the way. For those looking to start a lending business in Baltimore County, it is important to understand all of the regulations and resources available.
With the right guidance and support, entrepreneurs can make their dreams of owning their own lending business come true.
