Two local veteran-owned businesses have received no-interest loans to assist them with growing and operating a business in Maryland.
Edgewood Creamery and WESP Communications both recently utilized funding through the state’s Military Personnel and Veteran-Owned Small Business No-Interest Loan Program (MPVOLP). Edgewood Creamery received a $50,000 loan to assist with property improvements and equipment, and WESP Communications received $25,000 for operating expenses associated with customer contracts.
Based in Harford County, Edgewood Creamery is a homemade ice cream shop serving up waffle cones, milkshakes, ice cream cakes, and more. Managing member and majority owner, Louis Bono – a veteran of the U.S. Army – shares ownership with two additional co-owners. The ice cream shop officially opened for business in May.
WESP Communications, located in Baltimore County, is a call center service company providing inbound, outbound, and other services to businesses in need. The startup, which launched in 2018, anticipates steady growth with the potential to add more than a dozen employees in the near future. The business is owned and operated by William Evans, a veteran of the U.S. Army.
Created in 2006, MPVOLP is administered by the Maryland Department of Commerce in consultation with the Maryland Department of Veteran Affairs. Veterans, military reservists, and National Guard members who own a business are eligible to apply.
The program also accepts applications from small businesses that employ military reservists and National Guard members called to active duty, as well as companies owned by or employing service-disabled veterans.
To learn more about the program, visit our website.