Tuesday, July 8, 2014
Baltimore County Giving Away $1.5 Million in Funding to Women-Owned Businesses
About the fund
The fund established in 2008 is called the Maryland Small, Minority and Women-Owned Business Loan Fund. Money deposited into the fund from casino earnings helps support small businesses owned by women and minorities. These businesses play an important role in the growth of the economy in Baltimore County. Maryland law dictates that 1.5 percent of all proceeds from casinos be used specifically for the support of women-owned and other small businesses.
How the money helps
As a result of the recent $1.5 million funding, the fund can offer more loans to small businesses. Three to twenty-year loans ranging from $50,000 to $500,000 are now available to help small, minority and women-owned businesses in Baltimore County. About 50 percent of the funds are reserved for businesses that are located within 10 miles of the casino.
For more information on the Maryland Small, Minority and Women-Owned Business Loan Fund, visit