7 companies share $580,000 in business loans from Baltimore County

Reporter- Baltimore Business Journal

Seven companies will share $580,000 in business loans from Baltimore County’s Boost Fund.

The loans, which range in value from $50,000 to $250,000, are designed for small-, minority- and women-owned businesses in Baltimore County and Baltimore City. The money is intended to provide gap funding for startups, or to help other small businesses with building improvement projects, equipment purchases and real estate deals.

Baltimore County Executive Kevin Kamenetz on Thursday announced the awards at the University of Maryland, Baltimore County’s incubator, where several of the loan recipients have offices.

“Each of these promising companies is going after niche concepts that could develop into much larger companies,” Kamenetz said. “Giving them this boost right now will help them grow.”

The fund is capitalized through state casino revenue. Baltimore County has awarded $1.38 million in Boost Fund loans since launching the program in October.

Here are the recipients:

• Amethyst Technologies LLC at bwtech@UMBC, $100,000
• Airphoton LLC at bwtech@UMBC, $50,000
• Allovue LLC in Baltimore, $25,000
• LessonCast Learning LLC at TU Incubator (Towson University), $50,000
• Light Point Security LLC at bwtech@UMBC, $105,000
• RedShred LLC at bwtech@UMBC, $100,000
• Vac Pac Inc. in Baltimore, $150,000