VOLT Fund Tech Loan Application Deadline is November 15, 2015
Anne Arundel Economic Development Corporation serves as a manager of Maryland's Small, Minority and Women-Owned Business loan fund, which receives 1.5 percent of video lottery terminal revenue from Maryland casinos. On June 24, 2015, AAEDC received a new allotment of $1.85 million to distribute through its VOLT Fund. Small and minority, women and veteran owned businesses located within 10 miles of any of Maryland's three casinos and those located elsewhere in the state may be eligible for loans of between $25,000 to $500,000 for purposes such as business and commercial real estate acquisition and expansion, lease-hold improvements, equipment and vehicle purchase, and working capital. AAEDC anticipates that under the VOLT Fund, seventy percent of its funds will be distributed to conventional small businesses and thirty percent will be directed to entrepreneurs of emerging technology.
Need funds to take your tech startup to the next level?