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AAEDC Community Reinvestment Initiative For Smallwood and Rivera Beach Businesses

There is expansion of business loan program by economic officials of top counties and more pressure has been laid on older community districts. Fort Smallwood and Rivera Beach communities are part of the effort so as to make low interest loans available for revitalizing the economy.

Anne Arundel Economic Development Corp. (AAEDC) has come forward and assigned a staff member to ‘Community Reinvestment Initiative’ so as to make finances available for equipment purchase, exterior improvement and architectural services.

Supporting small community business is top priority of AAEDC. Its loan fund offers SBA-guaranteed loans up to $300,000 to small business owners. No-interest loans are available to business owners for exterior improvements that include $1,500 worth architectural service. AAEDC has plans to approach County Council so as to amend County Code that will add $100,000 tax credit to the agency as opposed to $50,000 credit.

Biz2Credit Logo This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to info@biz2credit.com