Per MCEDC: The Montgomery County Economic Development Corporation (MCEDC) has officially begun accepting applications for commercial loans from the new Accelerating Community Excellence (ACE) Loan Fund, a state of Maryland-funded program that provides loans to small, minority and women-owned companies. MCEDC is the ninth fund manager in the Maryland Small, Minority and Women-Owned Business Program, also known as the Video Lottery Terminal (VLT) Program.
“Small, minority and women-owned businesses are the backbone of Montgomery County,” said Bill Tompkins, MCEDC President & CEO. “Our new ACE Loan Fund gives us the power to provide financial support to these businesses to help them grow and flourish in our area and across the state of Maryland. We couldn’t be happier to have been appointed and approved as a fund manager and look forward to seeing Montgomery County businesses continue to thrive.”
The Maryland VLT Program was created to assist businesses, especially in underserved communities, with a percentage of the proceeds from video lottery terminals (slots) from the six casinos in Maryland. MCEDC was allotted $1.5 million in financial assistance to distribute among eligible businesses in the state and within Montgomery County.
The VLT Program requires at least 50% of the program funds to be deployed to eligible small businesses located within a certain targeted radius surrounding the state’s six casinos. Since there are no Montgomery County casinos in Maryland, the MCEDC–managed ACE program will target the remaining 50% of its funding to eligible Montgomery County small businesses.
MCEDC will work with the Latino Economic Development Center (LEDC) as the program’s fiduciary agent. MCEDC chose LEDC as a partner since the center has an established and strong track record of services to the Latino and underserved communities in the Greater Washington-Baltimore region, with offices in Wheaton and Baltimore.
“The ACE Loan Fund will offer greater capital to minority business owners to foster their growth and development,” said Emi Reyes, LEDC CEO. “We are proud to have partnered with MCEDC as we work together to support the region’s small businesses.”
To see if your business is eligible for the program, complete the pre-qualification form by visiting https://www.ledcmetro.org/ace_loan_program?locale=en. For questions regarding the program, contact Laurie M. Boyer Babb, CEcD, at [email protected] or (240) 641-6704.
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From the Offices of Councilmembers Will Jawando, Gabe Albornoz and Kristin Mink:
FEST OF SPRING Caribbean Wine Food & Music Festival
Get ready to experience the vibrant colors, tantalizing flavors, and infectious rhythms of the Caribbean at the FEST OF SPRING Caribbean Wine Food & Music Festival! Hosted by RHU LLC, this exciting festival is set to take place on May 18, 2024, at the picturesque 16700 Barnesville Rd in Boyds, MD.
Step into a world where the Caribbean spirit comes alive! From 12:00 PM onwards, immerse yourself in a sensory journey that celebrates the unique culture, cuisine, and music of the Caribbean. Whether you're an African American, a Reggae or Soca music enthusiast, a wine lover, or part of the vibrant Caribbean diaspora, this festival promises to delight and captivate you in every way.
Let the enticing aromas of mouthwatering Caribbean dishes tantalize your taste buds. Feast on traditional delicacies prepared by expert chefs, showcasing the rich and diverse culinary heritage of the Caribbean. Indulge in flavorful jerk chicken, succulent seafood, and delectable plantain dishes that will transport you straight to the islands.
Accompanying the culinary extravaganza is a carefully curated selection of premium wines, ensuring the perfect pairing for your palate. Sip on fine wines from renowned vineyards, each sip a reflection of the Caribbean's vibrant spirit. Discover new flavors, expand your wine knowledge, and savor unforgettable moments with every glass.
As the sun sets, get ready to groove to the infectious rhythms of Caribbean music. Feel the pulsating beats of reggae, soca, dancehall, and calypso, moving your body to the lively melodies. Live performances by talented musicians and performers will keep the energy high, ensuring a night of unforgettable entertainment.
Don't miss this opportunity to embrace the Caribbean spirit and celebrate the arrival of spring in style! Tickets are available on AllEvents, so secure your spot today. Join us at the FEST OF SPRING Caribbean Wine Food & Music Festival, where cultures collide and unforgettable memories are made.
LIVE PERFORMANCES By: CULTURE Feat. Kenyatta Hill, EXCO LEVI, IMAGE BAND, RAS LIDJ REGG'GO with Special Guest SUGAR BEAR FROM E.U. & MORE! & MORE!
MUSIC By: DJ ABLAZE, DJ SMALLY & NAJ SUPREME
2 NIGHT Camping packages available: RV/CAMPER $200 | TENTS $150 Starting on Friday May 17 @ 5pm | 30 RV SPACES | 30+ TENT SPACES
KIDS 12 & UNDER FREE!!!
