February 14, 2024

Uplifting the Community We Love

We love Howard County and show it by supporting our diverse innovators and enterprises. 

We are proud to celebrate wholesaler F&F Wholesalers LLC—our first LIFT Fund recipient--gaining access to growth capital. This achievement is a testament to the power of collaboration and support for small businesses in our community.

In March, we're offering events and opportunities tailored for Howard County businesses. To learn more about HCEDA and partner resources for your business, attend our Business Resource Expo on March 7. Additionally on March 20, aspiring ventures can pitch game-changing concepts at the MIC Pitch and Mingle to compete for $7,000 of seed funding.

Join us as we continue to build a vibrant and resilient business community together.

Community Spotlight: Celebrating Black-Owned 

Businesses During Black History Month

F&F Wholesalers Becomes First LIFT Fund Recipient!

F&F Wholesalers LLC has become the first recipient of the LIFT Fund, a testament to the power of collaboration and support for minority-owned businesses in our community.

Founded in 2018 by Olufunmilola 'Funlola' Odekunle, F&F Wholesalers is dedicated to supplying durable goods to government agencies. However, as the company pursued growth, Funlola faced the challenge of securing the capital needed to purchase larger volumes of inventory required for fulfilling government contracts.

Recognizing the potential of F&F Wholesalers and the importance of supporting minority-owned enterprises, we stepped in to provide assistance. After an intense but invaluable process, we approved a LIFT Fund loan to F&F Wholesalers in December 2023. This loan will enable the company to expand its inventory and fulfill its government contracts, marking a significant milestone in its journey.

Funlola's experience underscores the essential role that we play in nurturing and supporting local businesses. Through financing, we empower entrepreneurs like Funlola to access the capital they need to grow and thrive. Additionally, we offer valuable guidance and support throughout the loan application process, ensuring that businesses are equipped with the resources and knowledge they need to succeed.

We commend Funlola and F&F Wholesalers on this achievement and look forward to seeing their continued success. Their story serves as a testament to the impact of the LIFT Fund and the vital support to minority-owned businesses in our community.

Act Now: Energy Efficiency & Conservation Loans Available!

Applications are open for the FY24 Maryland Energy Administration’s Lawton Loan Conservation Fund. Designed to bolster energy-efficient practices, this initiative offers low-interest loans to businesses and nonprofits.

Eligible projects include LED lighting updates, building envelope improvements and more. Don't miss this chance to enhance efficiency and contribute to a sustainable future. Apply before 3:00 p.m. on May 15, 2024.

Route 1 Business Alliance: 

Reflecting on a Successful Quarterly Meeting

It was great to connect with Route 1 businesses during our recent quarterly meeting. We had the opportunity to delve deeply into several key topics, including Workforce strategies, HoCo by Design initiatives and the invaluable Route 1 Tax Credit program. The insightful discussions and exchange of ideas underscored the collaborative spirit and shared commitment to advancing the economic landscape along Route 1.

If you are a business on Route 1 and would like to participate, please email us!

Pitch and Mingle: The Lucky Pitch

Apply Today for a Chance at $7,000 in Prizes!

Join the Maryland Innovation Center for our pitch competition featuring entrepreneurs and startup companies in the community. $7,000 in prizes will be awarded!

Spirited in atmosphere and in food and drink offerings, Pitch and Mingle is the perfect opportunity to stir up your social network, mingling with fellow attendees over light fare and libations. Come support the community's entrepreneurs, participate in the selection process and make connections at the MIC.

So how does it work? 5 startups are selected to present a 4-minute pitch. This is followed by 4 minutes of Q&A from the panel of judges and audience. At the end, our judges will come together and select the top 3 companies! These winners will receive cash prizes with first place receiving $3,000! In addition, there will be a "Crowd Favorite" award which is selected by the audience.

Interested in presenting? Don't miss this chance and apply today!

Join us at the HCEDA Business Resource Expo!

If you are a Howard County business owner this is your opportunity to meet with community partners and gain resources. Community partners include TEDCO, Office of Workforce Development, HC Office of Community Sustainability, Office of Procurement, Pinnacle Financial Partners and more!

Don't miss our dedicated information session on the LIFT Fund—a fantastic opportunity for small business owners, including minority-owned, women-owned, veteran-owned, and socially disadvantaged groups. Learn about microloans ranging from $10,000 to $30,000 tailored for your success with terms of three to five years. From networking opportunities with industry professionals to informative workshops and presentations, the HCEDA Business Resource Expo has something for everyone.

Don't miss out on this exciting opportunity to expand your network and gain valuable resources for your business. Mark your calendar for Thursday, March 7th, 2024, and join us for the HCEDA Business Resource Expo!

Thank you to our sponsor, HCC Training & Development Solutions!