Office of Economic Development Kicks Off Cecil Catalyst Program
ELKTON, MD. -- The Cecil County Office of Economic Development recently launched a new program targeted to assist and develop small businesses in the county.
Cecil Catalyst was designed to provide funds to creditworthy businesses that find it difficult to obtain financing through traditional sources due to limited equity, collateral requirements, or marginal cash flow. The purpose of Cecil Catalyst is to promote job growth and help small businesses, including start-up businesses, located in Cecil County.
Loans will range from $5,000 to $75,000 and will allow small businesses to use the funds to purchase land or equipment, strengthen capital improvements, and support general operating costs.
"Cecil Catalyst is great for businesses that need some assistance getting started and also for established businesses that need a little capital to try out new ideas or diversify their existing operations. We're excited about this program and we hope that businesses will be able to take advantage of it", said Chris Moyer, Director of the Office of Economic Development. "Cecil Catalyst is intended to stimulate the small business economy in Cecil County and enhance the viability of existing businesses."
"Commercial lenders typically require borrowers to contribute some of their own money towards the funding of a business project," said Moyer. “With this program, businesses just need to demonstrate the ability to pay back the loan.”
Visit www.cecilcatalyst.com today to apply or to learn more about the program.
Public Information Officer