Financing Options for Maryland Restaurants: Equipment Loans & Working Capital
Equipment Loans (No Personal Guarantee Options)
Liberty Capital Group
Features:
- No personal guarantee required (won't appear on personal credit reports)
- Up to $5M in financing for new/used equipment
- Terms: 12–84 months, $0 down for qualified borrowers
- Startup-friendly with deferred payment options (e.g., $99 first 6 months)
Eligibility:
- Simple application; startups and low credit considered
- Works with vendors nationwide
United Capital Source
Features:
- No personal guarantee required for equipment financing
- Up to $5M for kitchen equipment, POS systems, etc.
- Fast approval (24–72 hours)
Eligibility:
- 600+ credit score
- 6+ months in business
Equipment Loans (Other Options)
Taycor Financial
Features:
- Up to $400K without tax returns
- Flexible repayment (deferred/semiannual)
Eligibility:
- Startups and low credit accepted
Maryland Economic Adjustment Fund (MEAF)
Features:
- Loans up to $150K for equipment
- Targets minority-owned businesses
Eligibility:
- Fewer than 50 employees
- Strong repayment plan required
StartCap (Local Lenders)
Features:
- Partners with local banks (Farmers & Merchants Bank, PNC, etc.)
- Rates: 6%–12% for qualified applicants
Eligibility:
- Varies by lender; collateral typically required
Working Capital Loans
Credibly
Features:
- Up to $600K for daily operations
- Same-day funding available
Eligibility:
- 500+ credit score
- $15K+/month revenue
Bluevine Line of Credit
Features:
- Up to $250K revolving credit
- Interest-only on used funds
Eligibility:
- 625+ credit score
- $10K+/month revenue
Fora Financial
Features:
- Loans up to $1.5M for bad credit (570+ score)
- Early payoff discounts
Eligibility:
- $20K+/month revenue
State Programs
Maryland Capital Access Program (MCAP)
Features:
- Reduces lender risk, improving approval chances
- Covers loans for equipment, inventory, and working capital
Eligibility:
- Partner lenders determine terms (personal guarantee varies)
Maryland Small Business Development Financing Authority (MSBDFA)
Features:
- Loan guarantees for equipment purchases
- Supports minority/women-owned businesses
Eligibility:
- Strong business plan required
- Collateral may apply
Key Takeaways
No Personal Guarantee Options: Liberty Capital and United Capital Source explicitly avoid personal guarantees for equipment financing.
For Startups: Taycor, Liberty Capital, and Fundbox cater to newer businesses with flexible credit requirements.
Fast Funding: OnDeck (24 hours), Credibly (same-day), and Fora Financial (24–72 hours) offer quick turnaround.
For applications, visit lender websites or contact the Maryland Department of Commerce for state-backed programs.