Small Minority and Women-Owned Business Account, Video Lottery Terminal Fund (VLT)

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MDBIZ News Blog Small, Minority and Women-Owned Business Account - Video Lottery Terminal Fund (VLT)

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Created with the small business owner in mind, the state’s Video Lottery Terminal (VLT) fund uses proceeds from video lottery terminals (slots) to assist small, minority, and women owned businesses located in targeted areas surrounding six Maryland casinos: Maryland Live in Anne Arundel County, Hollywood Casino Perryville in Cecil County, Rocky Gap in Allegany County, Ocean Downs in Worcester County, Horseshoe Casino in Baltimore City and National Harbor in Prince George's County. BENEFITS

At least 50% of the VLT allocations will be deployed to small, minority and women-owned businesses located within certain targeted areas of the six casinos. The other 50% will be available to small, minority and women-owned businesses located throughout Maryland. ELIGIBILITY

Eligible Fund Managers oversee the distribution of video lottery terminal funds. APPLY

For more information about VLT contact the fund manager in your area:

FSC First - VLT Small Business Flex Fund

Stew Smith, Vice President, Business Development

1801 McCormick Drive, Suite 300

Largo, MD 20774

(301) 883-3610 (office)

Anne Arundel Economic Development Corporation - VOLT Fund

Stephen Primosch, Vice President, Financial Services

2660 Riva Road, Suite 200

Annapolis, MD 21401

(410) 222-7410

Meridian Management Group, Inc. - Maryland Casino Business Investment Fund

Tim Smoot, Senior Vice President & CFO

826 E. Baltimore St.

Baltimore, MD 21202

(410) 333-4270

Maryland Capital Enterprises Inc. - Video Lottery Terminal Fund

Maurice Ames, Director of Operations

144 East Main Street, Salisbury, MD 21803

(410) 546-1900

Baltimore County Economic Development - Boost Fund

Stanley Jacobs, Chief Lending Officer

C/O Department of Economic and Workforce Development

400 Washington Avenue, Suite 100

Towson, MD. 21204

(410) 887-8000

City of Baltimore Development Corp. - Video Lottery Terminal Revolving Loan Fund

Jeffrey P. Pillas, Vice President & Chief Financial Officer

36 S. Charles Street, Suite 1600

Baltimore, MD 21201

(410) 837-9305

Howard County Economic Development Authority - Catalyst Fund

Darshni Patel, MBA, Director of Business Incentive Programs

6751 Columbia Gateway Drive, Suite 500

Columbia, MD 21046

(410) 313-6512

Tri County Council for Western Maryland - State Lottery Terminal (SLot) Fund

Chris Funk, Business Development Loan Officer

11 S. Lee Street

Cumberland, MD 21502

(301) 689-1300

Montgomery County Economic Development Corporation - Accelerating Community Excellence (ACE) Loan Fund

Laurie M. Boyer Babb, CEcD, Director of Economic Development

1801 Rockville Pike, Suite 320

Rockville, MD 20852

(240) 641- 6704

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Topic areas: Public Policy and Governance, Workforce Development, Social Innovation and Community Development.

Funding amount

This grant provides Varies in funding.

Deadline

Applications are accepted on a rolling basis; there is no single fixed deadline.

Who can apply

This opportunity is open to the following applicant types:

• Not specified by the program.

Eligibility

The program did not publish a separate eligibility statement. See the official opportunity page for the full eligibility criteria.

Agency

Small Minority and Women-Owned Business Account, Video Lottery Terminal Fund (VLT) is administered by Maryland Department of Commerce (MD Commerce), listed via Maryland Department of Commerce.