New Video Series Premieres Highlighting Neighborhood BusinessWorks Investment
Program has provided more than $40 million to small businesses during Hogan administration
NEW CARROLLTON, MD — The Maryland Department of Housing and Community Development launched a new promotional video series highlighting projects supported by the Neighborhood BusinessWorks program. The new videos present testimonials from business owners and developers who received funding about their positive experiences with the program. Neighborhood BusinessWorks provides gap financing to small businesses located in Priority Funding Areas and Opportunity Zones across Maryland.
“Small businesses create jobs and contribute significantly to Maryland’s positive economic growth. That’s why one of Governor Larry Hogan’s top priorities is establishing and fostering a business-friendly climate in our great state,” said Maryland Department of Housing and Community Development Secretary Kenneth C. Holt. “Since 2015, Neighborhood BusinessWorks has roughly tripled the amount of small businesses it assists on a yearly basis, and we hope these new videos educate and encourage new and expanding businesses to explore the program’s flexible and proven financing.”
Recently, Governor Hogan announced that Neighborhood BusinessWorks surpassed the milestone of more than $40 million in lending to over 170 small businesses since January 2015. The program was instrumental in aiding small business recovery following the 2016 and 2018 historic flooding in Ellicott City. Other recent loans have assisted biotechnology companies, restaurants, and retail establishments. The first videos in the new promotional series highlight two Baltimore businesses: the Lillie May Carroll Jackson Charter School and Union Collective.
Lillie May Carroll Jackson Charter School – https://youtu.be/rTG8EKGibzg
Opened in 2015, the Lillie May Carroll Jackson Charter School is an all-girls, public charter, middle school in Baltimore. The school was created through a unique public-private partnership between Roland Park Country School and the Baltimore City school system. Named after the African American activist, civil rights leader, and director of the Maryland National Association for the Advancement of Colored People, the Lillie May Carroll Jackson Charter School offers a supportive 21st century learning environment providing rigorous academic course work, character development, and leadership opportunities. Neighborhood BusinessWorks gap financing supported acquisition and construction of the school building.
After five years powered by a great product and passionate customers, Union Craft Brewing had outgrown their facility in Baltimore’s Woodberry neighborhood. Less than a mile away, Union found their ideal location, a gigantic warehouse near both public transportation and the interstate. After securing financing through the Neighborhood BusinessWorks program, they partnered with six like-minded businesses to transform the repurposed warehouse and create Union Collective, a modern day maker center. Anchored by Union’s production brewery and taproom, Union Collective and its local businesses are reinvigorating manufacturing in Baltimore with a thoughtful, civic-minded approach that supports the local community.
For more information about Neighborhood BusinessWorks, including information on how small businesses can apply, visit https://dhcd.maryland.gov/Business/.