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Maryland gets funding for small businesses

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With help from the U.S. Economic Development Administration, Maryland has garnered additional funding to support the state’s small businesses impacted by the coronavirus pandemic.

The state has received an additional $3.4 million to recapitalize several state and county loan funds that provide assistance to small businesses. Specifically, the Maryland Department of Commerce received $770,000 to recapitalize the Maryland Economic Adjustment Fund program, a pre-existing small business Revolving Loan Funds program funded primarily through the EDA.

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