Anne Arundel Economic Development Corporation will open the application round for VOLT Fund technology loans on October 1. AAEDC plans to allocate approximately $800,000 to the technology portion of the Fund.
Since 2013, AAEDC, through its VOLT Fund, has distributed loans to qualified small, minority, women and veteran owned companies throughout Maryland. On June 23, Maryland’s Board of Public Works approved Anne Arundel Economic Development Corporation’s request for $1.85 million for the VOLT Fund. The program is supported by a portion of casino revenue.
While most of the funding goes to conventional businesses, the VOLT Fund has a unique set aside specifically for emerging technology companies. The technology loan application is managed in collaboration by the AAEDC, Anne Arundel County’s technology incubator the Chesapeake Innovation Center, and bwtech@UMBC.
This year’s application window closes on November 15 and awards are anticipated to be made by the first quarter of 2016. Companies interested in applying should download the application. Businesses that applied in past years should fill out a new application as well as update the items listed on the checklist.
Applicants should post all application materials onto the Gust website and invite “The VOLT Fund/Anne Arundel Economic Development Corporation” to review the documents. Companies should also notify Sheila Armshaw at the CIC - email@example.com – that application materials have been uploaded onto Gust.
Companies interested in applying for a VOLT Fund tech loan are encouraged to attend an information session to be held at the CIC on Wednesday, September 30, 2015. More information can be found on the event’s registration page.