Page 15 - Baltimore County 2022 Quality of Life Guide & Business Directory

INCUBATORS AND ACCELERATORS
bwtech@UMBC (bwtech.umbc.
edu) is a 71-acre business incubator adjacent to UMBC that is primarily focused on three sectors: cyber, govtech and biotech. Members have access to
a selection of office spaces that can accommodate businesses of all sizes, plus more than 40,000 square feet of wet lab space.
StarTUp at the Armory (www. towson.edu/campus/partnerships- research/startup) serves as an entrepreneurial resource and activity hub inside and outside of Towson University. Startups, small businesses and the region’s largest corporations are all welcome in this vibrant space, which creates new opportunities for regional leaders to connect, convene and collaborate.
The 26,000-square-foot facility is home to signature TU entrepreneurship programs, as well as student competitions and events. Small businesses and local entrepreneurs have access to a number of programs and resources focused on entrepreneurship and workforce development. They include the StarTUp Accelerator, which jumpstarts ventures via an intensive, eight-week, cohort-based fellowship and ATHENAPowerLink,
a year-long mentorship program for female entrepreneurs. The services of the SBRC and startup funding organization TEDCO are available as well. In addition, the building includes 6,000 square feet of free co-working space. CO-WORKING SPACES
Launch Workplaces (www. launchworkplaces.com) offers customizable offices and reasonably priced co-working desks at 210 West Pennsylvania Avenue in Towson.
In Catonsville, PIVOT (www.pivotmd. net) provides flexible shared and private office space that’s perfect for entrepreneurs, professionals and those who work from home. Amenities include free access to office supplies — from pens and staplers to 3D printers — as well as discounts at local businesses.
The INSIGHT Community (www. theinsightcommunity.com) in Towson
provides executive offices, conference rooms and shared office space, while also connecting its members through valuable peer-to-peer interactions.
FINANCE & LOAN PROGRAMS
Baltimore County offers direct financing programs to encourage investment and job creation. Private sector financing
is leveraged with the county’s gap
and flexible-financing programs to
help businesses expand and grow. Additionally, the county can help
you access state, federal and private financing for new and expanding businesses. Below is a partial list of available incentives. You’ll find the full list at www.baltimorecountymd.gov/ departments/economicdev/business/ money-for-business/financing.html.
Boost Loan Fund
Provides access to capital for targeted businesses, including small, minority-, women- and veteran-owned businesses in the Baltimore metro area. The fund
is capitalized by Maryland casino tax revenue and can provide loans from $50,000 to $250,000.
Advanced Technology Loan Fund
Provides loans to technology-based businesses and businesses acquiring technology equipment. Maximum loan amount is $250,000. Funds may be used to finance the acquisition and improvement of land, buildings and equipment, including new construction or facility expansion.
Small Business Loan Fund
The Small Business Loan Fund
provides real estate and fixed-asset loans through a partnership between Baltimore County and the area's leading financial institutions. The maximum loan amount is $1 million, or 40% of the project cost, whichever is less.
Business Growth Loans
Business Growth Loans are direct
loans or loan guarantees for new or expanding industrial or commercial businesses. Maximum loan amount is $250,000. Funds may be used to finance the acquisition and improvement of land, buildings, plant and equipment, including new construction or facility expansion.
Waterfront Business Improvement Loan Program
Baltimore County offers loans for qualifying waterfront businesses.
The funds can be used for exterior improvements, including bulkhead repair, slip renovations, signage, landscaping, facade improvements, etc. Funds are available for the lesser of 90% of the project cost or $75,000. Loan terms are five years with zero percent interest.
To learn more about these finance programs and others, contact a Baltimore County business development representative by calling 410-887-8000 or emailing businesshelp@ baltimorecountymd.gov.
www.baltcountychamber.com 13