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Baltimore County expands small business loan fund

Baltimore County Executive Kevin Kamenetz announced on Wednesday that five more banks have joined the Baltimore County Small Business Loan Partnership, bringing total commitments to the loan fund to $12,350,000 from 20 financial institutions.

CFG Community Bank, Sandy Spring Bank, Peoples Bank, Northwest Savings Bank and TD Bank have joined the public-private partnership between the Baltimore County Department of Economic Development and 20 of the region’s leading financial institutions.

The fund provides real estate and equipment loans to companies currently located or planning to locate in Baltimore County. Loans require only 10 percent equity, freeing capital for additional investment.