Four small and/or minority-owned businesses have received financial assistance to help them grow and succeed throughout the state of Maryland.
The funding - totaling $976,000 in loans, equity investments, and lines of credit - will be used to support expansions and facility improvements, as well as for product development, working capital, and equipment purchases. The assistance comes from the state's, a fund created in 1978 and managed by Meridian Management Group (MMG), a Baltimore-based professional asset manager for economic development and private equity funds.
The businesses receiving financial assistance include Agent of Change, LLC, a Waldorf woman-owned business that provides mental health counseling services; BingeNow, LLC, a Columbia-based early-stage tech company focused on digital video management and monetization for content creators; DAR Healthcare Services, LLC, a woman-owned medical firm that plans to relocate to Randallstown; and Everywhere Communications, Inc., a cellular and satellite data communications company located in Annapolis.
“We are dedicated to helping small businesses succeed in Maryland and the MSBDFA program is just one way we are making sure small firms have the necessary resources to continue growing, thriving, and adding new jobs,” said Maryland Commerce Secretary Kelly M. Schulz.