Five Veteran-Owned Businesses Receive $50,000 in Financing
The companies received a total of $250,000 from state's veteran loan program
The Maryland Department of Commerce announced that five veteran-owned businesses have received a total of $250,000 in financing through the Military Personnel and Veteran-Owned Small Business No-Interest Loan Program (MPVSBLP), which will help create nearly 40 new jobs throughout the state. Each business will use the $50,000 loan to support expansions and job creation, as well as infrastructure upgrades, equipment purchases, and working capital.
The businesses receiving financial assistance include C&B Strategic Consulting, Inc., a Baltimore-based firm specializing in information technology and program management; C&E Pharmacy Services LLC, an Annapolis pharmaceutical startup specializing in virtual pharmacy services for veterans; Grimmer Technology and Operations Inc., a Howard County IT company that supports federal contracts for the Department of Defense; Narrows Hill LLC, a tabletop games and accessories developer based in Garrett County; and Spin Juice House, a startup retail juice and health food café in Waldorf.
“Our military and veteran loan program helps ensure that our local businesses have the funding they need to succeed,” said Maryland Commerce Secretary Mike Gill. “We are honored to have assisted dozens of veterans through this program, and proud to provide the kind of support these men and women deserve as they work toward the next chapter of their careers.”
“The men and women who have worn the uniform of our Armed Forces have the drive, commitment and entrepreneurial spirit to be successful in business,” said George Owings, Secretary of the Maryland Department of Veterans Affairs. “We are pleased to consult with Commerce on the veteran loan program and wish each of these businesses best wishes in their future 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 are currently being accepted through August 17, 2018. To learn more about the program, please visit our website.
Maryland Joins Federal Trade Commission in “Operation Donate with Honor”
Leader in Nationwide Effort to Combat Fraudulent Charities That Falsely Claim to Help Veterans and Service Members
BALTIMORE, MD - Maryland Attorney General Brian E. Frosh and Maryland Secretary of State John C. Wobensmith, in coordination with the Federal Trade Commission (FTC), announced enforcement actions taken against four sham charities operating in Maryland as part of a nationwide sweep and education initiative - “Operation Donate with Honor.”
The FTC, along with Attorneys General and charity regulators from 70 offices in every state, the District of Columbia, American Samoa, Guam, and Puerto Rico, announced more than 100 actions against fraudulent charities that con consumers by falsely promising their donations will help veterans and servicemembers. In the state actions announced today, charities and fundraisers sought donations online and via telemarketing, direct mail, door-to-door contacts, and at retail stores, falsely promising to help homeless and disabled veterans, to provide veterans with employment counseling, mental health counseling or other assistance, and to send care packages to deployed service members.
"Sham charities steal from consumers," said Attorney General Frosh. "They rely on our noble instincts - to help veterans and other worthy causes - but they use the money they collect to enrich themselves. They hurt legitimate charitable organizations by siphoning off support from their good work. We are committed to putting these fraudsters out of business."
“Scam artists are on the prowl, ready to take advantage of generous donors who want to help veterans, said Maryland Secretary of State Wobensmith. “Make sure your donations go to reputable, well-established charities.”
The FTC launched this ongoing effort with the National Association of State Charity Officials (NASCO). The initiative includes an education campaign, in English and Spanish, to help consumers recognize charitable solicitation fraud and identify legitimate charities. The FTC has new educational materials, including a video on how to research charities. Donors and business owners can find information to help them donate wisely and make their donations count at FTC.gov/Charity. Read More Here
State Department of Assessments & Taxation
SDAT Offers Tax Relief, Mails More Than 75,000 Postcards for
Tax Credit Awareness Campaign
Encourages Low-income Homeowners and Renters to Apply for Property
Tax Credits
The Maryland State Department of Assessments and Taxation (SDAT) is urging Marylanders to consider whether they may be eligible to receive a homeowners’ or renters’ property tax credit and to submit an application before the September 1 deadline. As part of this awareness campaign, this week SDAT mailed 77,544 postcards to low-income Maryland homeowners who may be eligible to receive a credit, but have not yet submitted an application. SDAT representatives have consistently participated in various community outreach events throughout the year hosted by senior centers, neighborhood alliances, and non-profit organizations to educate Marylanders about tax relief that may be available to them.
The Homeowners’ Property Tax Credit Program provides tax relief for eligible homeowners by setting a limit on the amount of property taxes owed based on their income. If a resident has already paid their property taxes and applies before September 1, any tax credit that the homeowner may be eligible for will be refunded by their county finance office. The Renters’ Property Tax Credit Program similarly provides tax relief for eligible renters who pay high monthly rent relative to their total income. This credit is issued in the form of a direct check payment of up to $1,000 a year.
To determine whether you are eligible to receive a tax credit, you may visit the links above or call 410-767-4433 or 1-800-944-7403 (toll free within Maryland). To receive an application, please email sdat.taxcreditapp@maryland.gov or call 410-767-4238.
These credits must be applied for annually by September 1. In 2017, approximately 47,000 homeowners received an average of $1,339 in tax relief, while more than 8,800 renters received an average of $402 in tax relief. Combined, these two tax credit programs saved Maryland taxpayers more than $65 million last year. After the 2017 Tax Credit Awareness Campaign, an additional 10,000 Maryland homeowners and renters applied for a tax credit. Many counties and municipalities also provide supplemental credits, which provide additional tax relief. If a resident is approved to receive the state credit, they will automatically receive any local supplemental credit for which they are eligible.
In order to educate Maryland homeowners and renters about the availability of these tax credits, SDAT has been proactively sharing this information with the public through direct mail, email campaigns, social media, and other forms of community outreach.
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