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Daniel Kuennen, Director Rural Development Center Richard A. Henson Center Room 2147, UMES Princess Anne, MD 21853 410/651-6183 · 410/651-6207 fax E-mail: Daniel S. Kuennen |
Micro lending has big payoffs on Maryland's Eastern Shore
The Rural Development Center at UMES, along with Rural Development-USDA Maryland District, Working Capital Delaware and other affiliated organizations have organized a micro lending non-profit organization for the Eastern Shore of Maryland. Maryland Capital Enterpises provides technical assistance and lending to small enterprises in order to help them secure capital and build a good credit history. Each participant works in a small group with an advisor to develop and build their business. Participants are eligible to borrow from the organization in increments of $500. When a loan is fulfilled, the organization reports payment to credit bureaus; helping the business to establish a solid credit history. Then the business is eligible to increase their next loan amount by $500. This program not only provides much-needed working capital but also provides business training and networking for participants.
RDC Project Grants
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