Twenty-one Businesses Benefit from AAEDC’s VOLT COVID Relief Loan and Grant Program

July 1, 2021

“The VOLT Program really answered my prayers and saved my business,” said Chuanda Mason, owner of RTB Cycle. The Odenton-based spin cycling studio was one of 21 small, minority, women and veteran owned businesses across Anne Arundel, Montgomery and Prince George’s Counties that were approved for a total of $1.25 million in loan plus matching grant awards through the Anne Arundel Economic Development Corporation’s (AAEDC) VOLT COVID Relief program.

Through the program, business owners could apply for loans up to $50,000 with a matching grant of up to that amount. The initiative is supported by funding from the Maryland Small, Minority and Women-Owned Business Account COVID-19 RELIEF Program managed by the Maryland Department of Commerce.

RTB Cycle is an indoor cycling experience offering riders a workout to improve their cardio, endurance, strength, and core. Ms. Mason, a minority and veteran entrepreneur, says the $15,000 loan and additional matching grant will provide working capital as well as help the business pay off an existing lease on its spin bikes. “My mother and I both have businesses in Maryland… and we are both very grateful to the state programs that truly helped the ‘small business’ owners, like ourselves.”

For entrepreneur Tori Moten, her $21,000 loan and matching grant will serve as working capital and support the build out for her company’s new location in Rockville. Established in 2011, M.A.D.E. Team Sports is a wellness oriented basketball center serving youth aged two to 21 years old. “We focus on body awareness and injury prevention,” says Ms. Moten. The funding will help the company offer a wide range of services including individual and group training, sports camps, basketball leagues, and birthday parties.

 

About the VOLT Covid Relief Program

Through bipartisan legislation Maryland established the Maryland Small, Minority and Women-Owned Business Account COVID-19 RELIEF Program, supported by $10 million in state Relief Act funding, in the spring of 2021 to support Maryland’s small businesses facing continued financial impacts from the novel coronavirus.

AAEDC’s VOLT program was allocated $1.25 million for this initiative and accepted applications for loans and matching grants to help small, minority, woman and veteran owned businesses recover from the economic effects of the COVID-19 pandemic.

AAEDC distributed its full allocation through the initiative, awarding loans totaling $625,000, and matching grants, to 21 businesses in Anne Arundel County.

Read more about the VOLT Covid Relief Program and view the full list of recipients and loan amounts below.

1. M.A.D.E. Team Sports, Inc. $21,000
2. RTB Cycle, LLC $15,000
3. Humdinger Enterprise, LLC $50,000
4. Stealing Sheep, LLC $50,000
5. Cuts Unlimited, Inc. $30,000
6. Bay Area CPR, LLC $15,000
7. ASM Educational Center, Inc. $50,000
8. Studio 180 Dance, Inc. $17,500
9. Jefferson Communications, LLC $16,000
10. The Braiding Palace $25,000
11. Cake Artista, LLC $50,000
12. Renaissance Children, LLC $25,000
13. Annapolis Family Accupuncture $25,000
14. Blue Crab Brewing Company, Inc. $50,000
15. Maryland Performing Arts Center, LLC $25,000
16. Wellsview Cottage, LLC $25,000
17. Arundel Pizza/FZ, LLC $10,500
18. Busybeesfd, LLC $25,000
19. Pherm Brewing Company $50,000
20. Posh & Luxe Companies, LLC $25,000
21. International Solution Partners $25,000

 

 

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