Four Anne Arundel County companies have been approved for loans through the Anne Arundel Economic Development Corporation (AAEDC) Business Financing Program.  The Program provides alternative sources of business financing for growing Anne Arundel County companies.  The four companies are:

Chesapeake Light Craft – a 21-year old company specializing in wooden boat kits, boat plans, boat-building materials, and boat building classes.  Owner John Harris was approved for a $300,000, SBA guaranteed loan to fund expansion of his product lines.  Chesapeake Light Craft is located at 1805 George Avenue in Annapolis; 410-267-0137; www.clcboats.com  (loan approved through the AAEDC Arundel Business Loan Fund offering SBA guaranteed loans up to $300,000)

OpinionWorks, LLC – a 10-year old company providing market research services and statistical analysis services that include focus groups, one-on-one interviews, and formal surveys.  Owner Steve Raabe was approved for a $100,000 State guaranteed line of credit that will be used for working capital to cover new contracts.  OpinionWorks is located at 20 Ridgely Avenue in Annapolis; 410-280-2000; www.opinionworks.com (loan approved through the Maryland Investment Development Financing Authority (MIDFA) offering  guaranteed lines of credit up to $100,000)

Six C/D Associates Limited Partnership  - owns and manages a 24,000 sf retail strip center that houses CVS Pharmacy, Domino’s Pizza, Minuteman Press and Mariner Finance;  The Limited Partnership was approved for a $35,000 loan that will be used for exterior improvements (new store front, windows and doors, awnings) for new tenant East Moon Asian Bistro.  The retail center is located at 7400 Ritchie Highway in Glen Burnie.   (loan approved through the AAEDC Business Corridor Investment Loan Program, established to encourage economic activity in Anne Arundel County and the City of Annapolis Revitalization Districts; offers zero-interest loans up to $35,000 exterior improvements)

Honey Bee Diner – a family-owned and operated restaurant since 1952 with an extensive menu but well-known for its breakfasts; The Filipidis family was approved for a $35,000 loan to be used for updating the exterior of the building including store front, doors, signage and parking reconfiguration.  Honey Bee Restaurant is located at 7346 Ritchie Highway in Glen Burnie;  410-761-0477 (loan approved through the AAEDC Business Corridor Investment Loan Program, established to encourage economic activity in Anne Arundel County and the City of Annapolis Revitalization Districts; offers zero interest loans up to $35,000 facade improvements)

Anne Arundel County Executive John R. Leopold said, “Providing financing support to small businesses is our commitment to sustaining the small business base here in Anne Arundel County.”

“The AAEDC Business Financing Program offers an important service to growing businesses that targets the specific needs of small businesses and spurs investment in revitalization districts,” said Robert Hannon, AAEDC president and CEO.  “Business financing helps stimulate business growth and helps create quality employment opportunities.”

“The Annapolis Economic Development Corporation (AnnapolisEDC) congratulates Chesapeake Light Craft and OpinionWorks, both wonderful City of Annapolis businesses, on being approved for loans through the AAEDC loan program,” stated Lara Fritts, AnnapolisEDC President and CEO.  “We think these successes directly exemplify the great working relationship we have with Bob Hannon, Joe Timer, and the rest of the AAEDC staff. The AnnapolisEDC is very fortunate to have such talented, complimentary and resourceful partners at the County (AAEDC) and State level (MIDFA) and looks forward to future wins like this for all of us. These transactions embody our commitment to retaining, expanding and attracting business to Annapolis with the help of our partners in the region.”

The AAEDC Business Financing Program is made possible with the support of a consortium of 16 banks – Bank of America, SunTrust, BB&T, Howard Bank, M&T Bank, PNC Bank, Severn Savings Bank, BankAnnapolis, Sandy Spring Bank, The Bank of Glen Burnie, The Columbia Bank, Susquehanna Bank, Carrollton Bank, CommerceFirst Bank, First Mariner Bank, and Revere Bank.  For more information about the ABL Fund, contact Joe Timer, AAEDC VP Financial Services, at 410-222-7410 or jtimer@aaedc.org.

The Anne Arundel Economic Development Corporation (AAEDC) mission is to serve business needs and to increase Anne Arundel County’s economic base through job growth and business investment.  For a complete list of services provided by AAEDC, visit the web site at www.aaedc.org or call 410-222-7410.