Worcester County Economic Development (WCED) officials announce the award of a Video Lottery Terminal (VOLT) small business loan to Lisa Taylor, owner and creative director of Smart Graphics Design/Frugals, The Locals Source for Coupons.
“This is the first VOLT loan to be awarded in the southern end of the county,” WCED Director Merry Mears said. “We look forward to the additional job opportunities the expansion of her business will bring to Pocomoke City.”
Smart Graphics Design, currently located on Payne Road in Pocomoke City and on the web at www.smartgraphics.biz, is a full service marketing, design and advertising firm that specializes in developing workable, print and online marketing solutions and design strategies for Eastern Shore businesses operating with very small budgets.
"VOLT was the alternative funding my business needed to grow,” Taylor said. “By expanding into a commercial location, two new jobs will be created along with a new business for Pocomoke City."
The $125,000 VOLT loan will be used to renovate and remodel a storefront building at 129 Market Street in Pocomoke City to serve as the new home to Smart Graphics Design. The remodeling project compliments ongoing revitalization activities taking place in the downtown area.
The check to Smart Graphics Design represents the fifth VOLT Small Business Loan awarded by WCED in partnership with the Anne Arundel Economic Development Corporation, the State of Maryland’s designated fund manager.
To qualify for VOLT loan funds, companies must employ fewer than 500 employees, and their annual revenues must average $35 million or less over three years. The loan funds are available to small, minority, and women-owned businesses in the county.
VOLT small business 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. For more information about the loan program, contact WCED at (410) 632-3112 or visit www.chooseworcester.org.