Columbia Business Receives Financial Boost From MSBDFA

COLUMBIA, MD — A business from Columbia is one of four small and minority-owned businesses in Maryland to receive a total of $976,000 in loans, equity investments and lines of credit through the Maryland Small Business Development Financing Authority (MSBDFA). The businesses will use the funding to support expansions and facility improvements, as well as for product development, working capital, and equipment purchases.

The businesses receiving financial assistance include Agent of Change, LLC, a Waldorf woman-owned business that provides mental health counseling services; BingeNow, LLC, a Columbia-based early-stage tech company focused on digital video management and monetization for content creators; DAR Healthcare Services, LLC, a woman-owned medical firm that plans to relocate to Randallstown; and Everywhere Communications, Inc., a cellular and satellite data communications company located in Annapolis.

“We are dedicated to helping small businesses succeed in Maryland and the MSBDFA program is just one way we are making sure small firms have the necessary resources to continue growing, thriving, and adding new jobs,” said Maryland Commerce Secretary Kelly M. Schulz in a statement. “We look forward to watching these companies flourish throughout the state.”

“All of these companies are viable businesses that were in need of some form of third-party assistance to obtain the capital required to support their growth. MSBDFA is strategically designed to help such businesses,” said Stanley Tucker, president and CEO of MMG, in a statement. “Businesses – particular those in urban and rural distressed communities that have challenges meeting the credit criteria of traditional financial institutions – can come to MSBDFA for its contract financing and bonding needs, loan guarantees, direct loan and/or investment needs.”