Maryland Tech Firms Receive Business Assistance Grants

The Emerging Technology Centers (ETC) in Baltimore City, Maryland have announced the award of eight business assistance and training grants to six different tech companies to help them accelerate development on new technologies.

The recipients are:

Strategic Results - which offers services on data storage and back up, open source applications, web hosting, web based applications, database development and maintenance;

BP Awarding $70 Million In Business Grants To Gulf Coast States

BP, the global energy company that's being held responsible for the massive oil spill in the Gulf Coast, has made a very important announcement for local tourism-related business owners. They are awarding $70 million in business grants to the states of Mississippi, Alabama, Louisiana, and Florida.

The purpose of the funding is to promote tourism in the aftermath of the oil spill. This comes in response to the many businesses that have filed suit against BP, hoping they will make good on their pledge to compensate business owners for legitimate claims concerning the loss of revenue.

Citi Business Grants For Haiti

Citi (also known as CitiBank or CitiGroup) is providing $1 million in charitable contributions to three local microfinance institutions (MFIs) in Haiti - Fonkonze, FINCA Haiti, and SOGESOL. This is part of their pledge to provide $2 million in relief to the disaster-stricken country.

The funding will be converted into business grants that will help at least 13,000 Haitian entrepreneurs and small business owners who are most affected by the earthquake.

Business Grants For Tennessee Entrepreneurs?

Tennessee residents and business owners who have been affected by the recent devastating floods are eligible to receive financial assistance.

President Obama has officially declared a major disaster for the region, and has allocated federal funding to help individuals in the following counties: Cheatham, Davidson, Hickman and Williamson.

The funding will help with rental assistance, hotel bills, repair grants, low-interest loans, and other initiatives that can help individuals and business owners recover.

FEMA (Federal Emergency Management Agency) is managing and disbursing the funds. So, the first step is to register, either by calling (800) 621-FEMA or by visiting www.DisasterAssistance.gov. The toll-free number will operate from 7am to 10pm everyday including Sunday.

The second step is hope that funding is not limited. There's never enough money to help everyone in a situation like this, but usually those who apply first have an advantage.

Wells Fargo Announces $1 Million in Funding For Low Income Entrepreneurs

Wells Fargo, the banking empire who recently purchased Wachovia Bank, is investing $1 million into Grameen America - a non-profit microfinance organization that gives low income entrepreneurs access to EQ2 (Equity-Equivalents) loans. They also help with business credit establishment and other financial services.

An EQ2 loan is a limited below market rate loan reserved for community development organizations and businesses. Grameen America has provided nearly 3,000 of these loans to entrepreneurs living below the federal poverty line. They have loaned out over $5 million in loan capital.

The high repayment rate of over 99% is a testament to the program's success. All loans are provided in the peer-lending model and each loan is spent on starting or expanding an existing business.

Wells Fargo's EQ2 investment will help Grameen America launch its operations in the San Francisco Bay Area beginning this summer. Grameen America currently has three branches in New York City and a fourth in Omaha, Nebraska. Additional expansion plans include Charlotte, Boston, and Washington, D.C. 

For more information about Wells Fargo's Community Lending Division, visit:
www.wellsfargo.com/communitylendingandinvestment

For more information about Grameen America, visit:
www.grameenamerica.com