Worcester County Economic Development (WCED), in partnership with the Anne Arundel Economic Development Corporation and Maryland Capital Enterprises, invites business owners and entrepreneurs to attend a Video Lottery Terminal (VOLT) small business loan information session. The session will take place at the Ocean Pines Branch Library on October 2, 2015 from 10 a.m. to noon.
VOLT fund managers will present the low interest loan opportunities that may be available to attendees to help them start or expand existing businesses. To qualify for a VOLT loan, companies must employ fewer than 500 employees, and their annual revenues must average $35 million or less over three years.
“VOLT loan funds are available to small, minority, and woman-owned businesses,” WCED Deputy Director Merry Mears said. “Most Worcester County businesses meet at least the minimum qualifications for these funds based on the Maryland definition of a small business.”
VOLT loan funds are generated from 1.5 percent of all Maryland casino yearly proceeds, as required by Maryland law. Fifty percent of these funds must be used within a 10-mile radius of Maryland’s operating casinos, including Ocean Downs.
The session is free, but pre-registration is recommended. To register for the session or to learn more about the advantages of starting or growing an existing business in Worcester County, please contact Mears at 410-632-3112 or firstname.lastname@example.org.