Loan Fund

Because of the severe drought and associated crop losses this year, the Maryland Agricultural and Resource-Based Industry Development Corp. has created a loan fund to help farmers with weather-related income losses. The 2007 Farm Drought and Weather Event Recovery Assistance Loan Fund offers low-interest operating loans to producers who have suffered significant crop, livestock, feed or dairy losses. The program helps pay for all or part of production costs associated with the drought, as well as essential family living expenses.

The Kingsville Volunteer Fire Company will use a $3.6 million loan from theU.S. Department of AgricultureRural Development program to expand and renovate its facility in northern Baltimore County. Senators Barbara A. Mikulski and Ben Cardin announced the funding Thursday. The company, which serves a predominantly rural area, will use the money to update outdated mechanical and electrical systems, replace the deteriorating roof and increase living and classroom facilities for its volunteers.

The Jim Rouse Entrepreneurial Fund (JREF), a private not-for-profit loan fund, recently elected members to its board of directors. They include the following people: John Sommerer of the Johns Hopkins University Applied Physics Laboratory, Diane Spruill of Columbia Bank, Ken Wilmers of FUTUREKIDS School Technology Solutions, and Clarence Wooten of Network Solutions/ImageCafM-i Division. JREF also elected officers for the 2000-2001 year, including Anthony Tangires, Karen Schonfeld, Edward Waddell, Judy Clayton and Harvey Steinman.

Editor: I am a resident of Harford County who has just finished reading the article "Harford County officials push for county business loan fund," in your April 13 edition. You quoted Economic Development Director [Jim] Richardson, as saying that Harford County could be the, "New Silicon Valley. " Other than the fact that a handful of developers and politicians would make a ton of money, why in the world would anyone want to transform a beautiful county into a network of congested roads, shopping centers, office buildings, housing developments, higher crime rate, overcrowded schools and probably higher taxes!

A volunteer has saved a proposed short-term, crisis loan fund that would pay for everything from car repairs to security deposits, according to a community services official.Peggie Roland, chairwoman of the Community Services Council, coalition of social service and community leaders, said that after learning that another $4,000 was needed to match a grant for starting the loan fund, a member of the corporate community volunteered to raise the money, starting by Jan. 31.The volunteer has asked to remain anonymous until conferring with co-workers, Ms. Roland said.

Don't be alarmed if you walk into your bank Friday and see some employees in sweat shirts and jeans.They'll also be wearing blue ribbons, signifying their contribution to a short-term crisis loan fund for county residents.Bank employees around the county who volunteer to contribute $5 or more to the loan fund will get the privilege of dressing down for the day.The unprecedented fund drive brings together 800 employees from nearly all the banks and savings and loan companies that do business in Carroll County -- 54 offices in all.Carroll County Bank Vice President James C. Wise came up with the idea to raise money and awareness for a short-term crisis loan fund that has had some trouble getting off the ground.

A proposed $1 million revolving loan fund for affordable housing construction could be just what Baltimore County needs to keep moderate-income people from moving to neighboring counties where housing is cheaper, county officials say.The money is part of a $2.5 million federal grant from the U.S. Department of Housing and Urban Development.The county wants to use the money to set up a low-interest loan fund for builders.The County Council will vote on the proposal Monday.If the plan is approved, a builder could borrow money from the fund at an interest rate of perhaps 3 percent instead of the higher prevailing commercial rate.

Downtown retailers and loan-hungry merchants who are considering downtown locations will gain a source of capital under a privately financed program announced yesterday by the Downtown Partnership of Baltimore.Maryland National Bank and Mercantile Bankshares have contributed $100,000 each toward the loan fund, and more pledges are expected from other banks, said Alan Hochman, director of business development for the quasi-public development group.The loans will be backed by $125,000 provided by the Abell Foundation and $50,000 from Baltimore Gas and Electric Co. The $175,000 collateral fund could back $350,000 in loans the first year, Mr. Hochman said.

A new loan fund to help small businesses create more jobs in Baltimore's multimillion-dollar urban revitalization area will begin accepting applications tomorrow..The new high-risk loan program is funded with $1 million in empowerment zone money and is geared to small manufacturers, wholesalers, retailers or other entrepreneurs who need hard-to-get financing of up to $100,000 to buy or upgrade buildings and equipment.The program "will be targeted generally to companies which demonstrate a clear ability to stimulate job creation," according to a summary prepared by officials overseeing the empowerment zone effort, which includes $100 million in federal grants and tax breaks to businesses worth a potential $225 lTC million more.

Merchants who will be affected by Baltimore's much-heralded West Side redevelopment project got a boost yesterday, when the city Board of Estimates approved a $2 million revolving loan fund they can use to help re-establish their businesses. City officials have been planning to establish the fund for several months. The board gave its unanimous approval with the understanding that the project's developers, West Side Renaissance Inc., will repay the city. M. J. "Jay" Brodie, director of the Baltimore Development Corp.

Regarding the proposal for Harford County to set up a business loan fund: Is it really a good idea for those of us who pay taxes to the county and state to allow these respective governments to get into the business of making high risk loans to businesses? Capitalism, a cornerstone of the western economic model, is the system wherein keepers of large sums of money (capital) — be they bankers or business tycoons or some combination thereof — make investments in ventures that they identify as having the potential to generate wealth.

All three Harford County municipalities will be recipients of state Community Legacy Program grants announced by the Maryland Department of Housing and Community Development Wednesday. Havre de Grace will get a $100,000 grant to make landscaping, signage and other beautification improvements at the entrance to the Hatem Bridge and along Superior Street. The city will also receive a $20,000 grant to develop a living fence of shrubbery and other plants at its downtown water treatment plant.

If there's a volunteer board working to promote economic development in northern Anne Arundel County, Michael Livingston probably serves on it, used to serve on it or has helped it out at one time or another. Livingston, the president and CEO of the Bank of Glen Burnie, now serves as chairman of the Anne Arundel Economic Development Corp. and as chairman of the Glen Burnie Town Center Advisory Committee. Under Livingston's direction, the bank has prospered through difficult economic times.

Baltimore native Dr. Sherell Mason knew she wanted to return to her hometown to provide community medical care, but the scholarship and loan repayment she received through the National Health Service Corps made that decision a lot easier. Now, more medical, dental and mental health care professionals will be able to take advantage of financial assistance through the federal program, thanks to an infusion of $290 million through the Affordable Care Act, announced Monday in West Baltimore.

Loan fund targets losses from drought Because of the severe drought and associated crop losses this year, the Maryland Agricultural and Resource-Based Industry Development Corp. has created a loan fund to help farmers with weather-related income losses. The 2007 Farm Drought and Weather Event Recovery Assistance Loan Fund offers low-interest operating loans to producers who have suffered significant crop, livestock, feed and/or dairy losses. The program helps pay for all or part of production costs associated with the drought, as well as essential family living expenses.

Because of the severe drought and associated crop losses this year, the Maryland Agricultural and Resource-Based Industry Development Corp. has created a loan fund to help farmers with weather-related income losses. The 2007 Farm Drought and Weather Event Recovery Assistance Loan Fund offers low-interest operating loans to producers who have suffered significant crop, livestock, feed or dairy losses. The program helps pay for all or part of production costs associated with the drought, as well as essential family living expenses.

Private loan fund elects board officers, membersThe Jim Rouse Entrepreneurial Fund, a private, not-for-profit loan fund in Howard County, recently elected members to its Board of Directors.Elected were Judy Clayton, Clayton Computer Services Inc.; H. Elizabeth Horowitz, EVI Inc.; Louis G. Hutt Jr., Bennett Hutt & Co.; Alice T. Iskra, Patuxent Publishing Co.; Patricia M. Keeton, Howard Community College; and Antonio P. Salazar, Provident Bank of Maryland.The fund also elected officers for the 1999-2000 year.

Loan fund targets losses from drought Because of the severe drought and associated crop losses this year, the Maryland Agricultural and Resource-Based Industry Development Corp. has created a loan fund to help farmers with weather-related income losses. The 2007 Farm Drought and Weather Event Recovery Assistance Loan Fund offers low-interest operating loans to producers who have suffered significant crop, livestock, feed and/or dairy losses. The program helps pay for all or part of production costs associated with the drought, as well as essential family living expenses.

Raytheon subsidiary marks Fulton move Solipsys, a Raytheon Co. subsidiary, celebrated its move to Maple Lawn, Maryland, last week. Howard County Executive Ken Ulman, Councilwoman Mary Kay Sigaty and Maple Lawn developer Stewart Greenebaum joined Raytheon Integrated Defense Systems President Dan Smith and Raytheon Solipsys President Mark Trenor in a cutting ribbon ceremony at the company's new location. The company moved about five miles from its former location in Laurel to its new building in Fulton in December.

After they finish picking candidates tomorrow, Baltimore voters must decide whether the city should borrow $120 million for new construction and whether to amend the city charter to create a fund that would be used to build affordable housing. Arguing that the city's real estate boom is pricing middle-class homebuyers out of the market, City Council President Sheila Dixon pushed for the new affordable-housing program, which would set up a dedicated trust fund similar to those in Washington and New York.