MARYLAND · NAICS 31-33
Maryland manufacturing projects, particularly along the I-270 life sciences and biomanufacturing corridor, carry the strongest program economics in fiscal 2026: 7(a) fees waived on loans up to $950,000, 504 fees waived entirely, and a $5.5 million debenture for manufacturers. The state's SSBCI channels have documented biopharma deals such as an Elkton manufacturer.
FEASIBILITY TRIGGER
Fiscal 2026 gives manufacturers the strongest program economics, with 7(a) fees waived on loans up to $950,000, 504 fees waived entirely, and a $5.5 million debenture.
SBA 7(a) and 504 lenders funded 517 manufacturing projects across Maryland between FY2010 and FY2026, moving $238.9 million in approved capital at an average ticket of $462,000. That volume places Maryland at #27 of 38 states measured for manufacturing SBA activity, or 0.6% of national manufacturing dollars. The 7(a) program carried 93.6% of the loan count, with 504 taking the balance, and 94 approvals have hit the pipeline since FY2024.
| Disbursed loans (FY2010–FY2026) | 517 |
| Approved volume | $238.9 million |
| Average loan size | $462,000 |
| 7(a) share | 93.6% |
| Approvals since FY2024 | 94 |
| State rank by loan count | #27 of 38 |
Among the 350 seasoned loans in this segment (approvals FY2010–FY2021), 8.3% reached adverse resolution — purchased, liquidated, or charged off. The national benchmark for manufacturing is 6.6%, against 7.3% across all industries. That performance runs above the national benchmark for this asset class, which is a factor lenders weigh in their credit decision.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
A 8.3% adverse-resolution rate against the national manufacturing benchmark of 6.6% tells credit committees to scrutinize revenue projections and coverage assumptions closely on Maryland deals in this class. A rigorous third-party feasibility study — built on documented demand, defensible pricing, and stressed coverage — carries meaningful weight in that underwriting conversation, particularly at an average loan size of $462,000 across 517 loans.
Every Maryland manufacturing project we underwrite follows the same lender ready process: independent market analysis, site and technical review, and financial projections tested against SBA SOP 50 10 8 standards. Our SBA feasibility study consultants guide explains scope, timing, deliverables, and what lenders and CDCs expect in the report.
Maryland projects often pencil under SBA 504 because the 50/40/10 structure delivers up to 90 percent financing on owner-occupied real estate at a fixed debenture rate, and SBA 7(a) covers acquisitions, working capital, and equipment. From July 4, 2026 eligible borrowers can combine 7(a) and 504 for up to $10 million in total program credit.
Maryland's life sciences and biomanufacturing corridor along I-270 anchors the advanced end, with the state's SSBCI channels documenting biopharma deals such as an Elkton manufacturer.
For a national view of this asset class, see our manufacturing SBA feasibility overview, and read our related analysis in the manufacturing lending research on our blog.
Compare neighboring markets: Maine, Massachusetts, Texas.
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