THREE MARYLAND VETERAN-OWNED BUSINESSES RECEIVE $50,000 IN FINANCING
Companies plan to create a combined 75 new jobs in Maryland
BALTIMORE, MD (July 8, 2019) – The Maryland Department of Commerce today announced that three Maryland veteran-owned businesses have each received $50,0000 in financing through the Military Personnel and Veteran-Owned Small Business No-Interest Loan Program (MPVSBLP). The companies will use the funding to support expansions and infrastructure upgrades and equipment purchases, and plan to create 75 in total.
The businesses receiving financial assistance include SRL Total Source, LLC, a Waldorf company that provides medical, cyber, and healthcare staffing services for federal government agencies; Samson Protection Services, LLC, an Upper Marlboro security and property protection startup specializing in executive protection, security officers, and investigating; and PLAYLive Nation-Annapolis, a family entertainment center that operates a gaming lounge for video game enthusiasts.
“Our military and veteran loan program has helped dozens of entrepreneurs expand their business ventures here in Maryland,” said Maryland Commerce Secretary Kelly M. Schulz. “We’re proud to support our men and women in uniform and we look forward to seeing what they do next.”
“Military careers provide men and women with the skills necessary to become leaders and successful entrepreneurs,” said Maryland Department of Veterans Affairs Secretary George Owings. “We wish these newest loan recipients the best of luck in their professional endeavors.”
The Military Personnel and Veteran-Owned Small Business No-Interest Loan Program was created in 2006 and is administered by Commerce in consultation with the Maryland Department of Veteran Affairs. Veterans, military reservists, and National Guard members who own a business are eligible to apply. The program also accepts applications from small businesses that employ military reservists and National Guard members called to active duty, as well as companies owned by or employing service-disabled veterans.
Applications for the state’s veteran loan program will be accepted through August 30, 2019. To learn more about the program, please visit our website.
About Maryland Commerce
The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.