The Department of Business and Economic Development announced this week that $11.5 million will be made available through casino revenues for investments in small, minority and women-owned businesses in fiscal 2016. The funds are being awarded to fund managers, who will then distribute the dollars to eligible businesses.
As reported by the Baltimore Business Journal,
Through the program, local fund managers can give loans or investments that will help small businesses grow locally, add jobs and contribute to the economy.
For example, Baltimore County in May awarded a $150,000 loan to food packaging company Vac Pac, which is moving from Baltimore to establish a state-of-the-art manufacturing plant in Howard County.
Fund manager awards are included in the article.