MARYLAND · NAICS 713930
The Chesapeake Bay, the largest estuary in the country with more than 11,000 miles of shoreline across Maryland and Virginia, anchors one of the deepest boating economies in America. Maryland state records have historically counted roughly 598 marinas and 43,452 wet slips, figures from around 1999 to 2000 that should be read as directional, and 504 Capital's published record reaches the class through anonymized marina and boat dealer projects.
FEASIBILITY TRIGGER
Marinas are on the SOP 50 10 8 special-purpose list, so a third-party study is normally required with an industry-experienced going-concern appraiser and elevated equity.
From FY2010 through FY2026, Maryland recorded 10 SBA-disbursed marina and boat storage loans across the 7(a) and 504 programs, representing $11.0 million in approved financing at an average loan size of $1.1 million. The state sits at rank #14 of 38 for marina and boat storage SBA lending volume and holds 2.7% of the national marina and boat storage dollar pool. 7(a) accounts for 80.0% of the count, 504 for the rest, with 1 fresh approvals dated FY2024 or later.
| Disbursed loans (FY2010–FY2026) | 10 |
| Approved volume | $11.0 million |
| Average loan size | $1.1 million |
| 7(a) share | 80.0% |
| Approvals since FY2024 | 1 |
| State rank by loan count | #14 of 38 |
The state-level seasoned cohort in this segment is below our publication threshold of 30 loans, so no state rate is shown. Nationally, seasoned marina and boat storage loans (approvals FY2010–FY2021) show an adverse-resolution rate of 3.0%, against 7.3% across all industries.
Source: SBA 7(a) and 504 FOIA loan-level data, as of March 31, 2026. Disbursed loans only. See data methodology.
An adverse-resolution rate of 3.0%, close to the national marina and boat storage benchmark of 3.0%, puts Maryland deals in this class on ordinary SBA credit footing. Across 10 loans averaging $1.1 million, the underwriting question is deal-specific: a rigorous third-party feasibility study is where documented demand and stressed coverage decide the credit outcome.
Every Maryland marinas and boat storage 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.
The Chesapeake Bay, the largest estuary in the country with more than 11,000 miles of shoreline across Maryland and Virginia, anchors one of the deepest boating economies in America; state records have historically counted roughly 598 marinas and 43,452 wet slips, figures from around 1999 to 2000 that should be read as directional, and 504 Capital's published record reaches the class through anonymized marina and boat dealer projects.
For a national view of this asset class, see our marina and boat storage SBA feasibility overview, and read our related analysis in the marina and boat storage lending research on our blog.
Compare neighboring markets: Maine, Massachusetts, Texas.
Public SBA and CDC program records, cited as program evidence
Anonymized SBA 504 program record published by 504 Capital Corporation
Chesapeake-based CDC serving Virginia, Maryland, DC, and North Carolina, program evidence
504 Capital published record
Anonymized SBA 504 program record published by 504 Capital Corporation
Boat dealer expansion financing, program evidence
504 Capital published record
SBA 504 acquisition through PeopleFund
Lakefront resort and marina, national program evidence
Sunrise Beach, Llano County, Texas
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