Towson, Md. (March 13, 2008) Baltimore County's Small Business Loan Partnership financed a $500,000 loan for Frosty Refrigeration Company, used toward the purchase of a 10,500 square foot industrial building located in Woodlawn. Established in 1950, Frosty Refrigeration is a family owned business that provides residential and commercial HVAC services for Greater Baltimore, Annapolis and the Maryland Eastern Shore. The company has plans to relocate its 35 employees to the 1 1/2 acre site at 7121 Windsor Mill Road in the summer of 2008. The Small Business Loan Partnership, established by the Department of Economic Development, is a consortium of 18 financial institutions that provide low interest loans to small businesses in Baltimore County. "The loan program is designed to foster the growth of small businesses in the County by providing a lower cost financing option for capital improvements and expansions," stated Stanley Jacobs CFO for the Baltimore County Department of Economic Development. "The cost of savings of a lower financing rate gives small businesses the opportunity to keep more of their money and direct it into growing their business." Loans of up to $500,000 per project are available up to 50% of the total project cost and can be used to finance expenditures such as the purchase of new equipment or the acquisition and improvement of real estate. Loan proceeds come from the financial institutions, with Baltimore County serving as a partial loan guarantor. For more information or to obtain an application for a small business loan, call Stanley Jacobs, Chief Financial Officer, at the Baltimore County Department of Economic Development at 410-887-8000. Read more business headlines Read more about Baltimore County Business Communities Back to top Read more business headlines Baltimore County
Department of Economic Development
400 Washington Avenue Towson Maryland 21204
Phone 410-887-8000 For additional information contact businesshelp@baltimorecountymd.gov Revised June 10, 2009 | 
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