Ratcliffe Foundation Donates $1 Million for Innovative Entrepreneurial Program at SU

SALISBURY, MD---With an eye to bolstering employment, a Baltimore-based foundation has committed $1 million to the Franklin P. Perdue School of Business at Salisbury University for grants and loan guarantees to start new businesses.

Over a five-year period, the Philip E. and Carole R. Ratcliffe Foundation will offer as much as $200,000 annually to entrepreneurs looking to create startups. One of the Foundation’s goals: to have new businesses opening within six months with the potential of employing five or more within a year.

Two- and four-year college graduates residing in the Mid-Atlantic region are eligible. This includes all of Maryland, Delaware, Virginia and the District of Columbia. Proposals from New York and New Jersey also will be considered.
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