Governor Wes Moore today announced $2.2 million in financial assistance to support small, minority, and veteran-owned business growth to help make Maryland more competitive. The funding, which includes loans, loan guaranties, and equity investments from the Military Personnel and Veteran-owned Small Business Loan Program and the Maryland Small Business Development Financing Authority, will help the businesses create 36 new jobs and retain 131 workers in the state. “To make Maryland more competitive, we need to uplift our entrepreneurs. That’s why we are working together to ensure Maryland is the best state in the country to start, build, and grow a business,” said Gov. Moore. “With help from these two programs, we are uplifting entrepreneurs of all backgrounds — and building new pathways to work, wages, and wealth.“ The Military Personnel and Veteran-owned Small Business Loan Program provides no-interest loans of up to $100,000 for businesses owned by military reservists, veterans, and National Guard personnel and for small businesses that employ or are owned by these individuals. The program is administered by Maryland Commerce in consultation with the Maryland Department of Veterans and Military Families. The program is currently assisting several businesses, including Industrial Welding Services, a mechanical contracting company based in Phoenix; SRL Total […]
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