In collaboration with the Global Entrepreneurship Network (GEN), Hello Alice and Baltimore Gas and Electric Company (BGE) have launched a significant phase of the Energizing Small Business grant initiative.
This remarkable initiative offers $20,000 grants to small businesses located in central Maryland, with the goal of enhancing growth and prosperity.
Small businesses must be in BGE’s service area and must demonstrate a need for the funds, among other criteria.
This program is not just about offering financial support, but also fostering entrepreneurship, innovation, and economic development in the region.
Baltimore Gas and Electric Company, through this program, is reinforcing its commitment to enhancing the local economic landscape and supporting the region’s entrepreneurs.
Interested small businesses are encouraged to visit Hello Alice’s website for more details on the application process and criteria.
BGE and GEN’s small business grant expansion
BGE and GEN are proving to be an outstanding example of collaborative action in supporting local economies and boosting the growth of small businesses, creating a more vibrant and sustainable entrepreneurial ecosystem.
The Energizing Small Business Grant has a positive reputation, with over $2.5 million in aid provided to 129 small businesses in central Maryland since 2023 as of today.
Carim Khouzami, BGE’s President and CEO, hailed the role of the grants in fostering growth and creating opportunities within communities, emphasizing not just business sustainability, but also growth in challenging circumstances.
Since 2019, BGE has been dedicated to supporting the expansion of small businesses across central Maryland, with investments exceeding $13 million, while also providing regular skill development programs, mentorship, and networking opportunities.
Previous grant recipients span various industries, demonstrating the diverse applications of the funding across sectors including gaming, retail, food production, and cosmetics.
Hello Alice’s co-founder and CEO, Carolyn Rodz, emphasized the importance of such grants, citing them as vital for entrepreneurs to counter current inflation and increased interest rates.
They also help to mitigate the financial challenges that small businesses often face, creating a more conducive business environment.
Eligibility for the grant requires small businesses to have operated for at least one year, be in good standing as BGE customers, maintain annual gross revenues under $7 million and demonstrate a need for the grant to sustain their operations.
In 2021, the Energizing Small Business Grants supported 651 businesses with a combined total of $13.06 million, ranging in value from $10,000 to $25,000 during a crucial time in the face of ongoing global challenges.
