Baltimore County has announced the first loans awarded under the new Boost Fund Loans. As announced in a Baltimore County Press Release:
“Private capital has been very tight in recent years for small businesses, and in particular for early stage companies, women-owned and minority-owned businesses,” said Kamenetz at the launch of Business 1st Week. “The new Boost Fund offers flexible loans to support promising companies. The first three loans echo the diversity of Baltimore County’s small business community. They will help an entrepreneurial women-owned manufacturer, a contracting firm owned by an African American veteran and a new restaurant in a Commercial Revitalization District.”
The Boost Fund, managed by the Baltimore County Department of Economic and Workforce Development, can lend qualified small businesses between $50,000 and $250,000 for start-up and gap funding, building and leasehold improvements, business and equipment acquisition, commercial real estate acquisition, and working capital.
Boost Fund Loans were awarded to three small, minority or women-owned businesses:
- Michele’s Granola
- Oak Creek Cafe
- Aegis Mechanical Contracting
For more information read the full Baltimore County Press Release.