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Thursday, June 30, 2016

Government Loan Derived From Casino Revenue To Help Ocean City Brewer Expand Brand

OCEAN CITY – The popular Hoop Tea brand will expand thanks to a $250,000 VOLT loan.

State and local officials presented a check for $250,000 to Danny Robinson of Backshore Brewing to aid in the expanded distribution of Hoop Tea. The alcoholic drink, “summer in a jar” as Robinson calls it, will make its way to neighboring states now that the company has the money to expand the product line.

“These VOLT loans are critically important to support small business,” Senator Jim Mathias said as he helped present the check.

VOLT loans, made possible by the revenue generated by the video lottery terminals at Maryland casinos, are offered to small, minority- and women-owned businesses as low interest loans. To qualify, companies must employ fewer than 500 people and have annual revenues that average $35 million or less over three years. Past recipients have included Smart Graphics Design in Pocomoke and Plak That in West Ocean City.



Anonymous said...

don't you just love what the gubmint "invests" our $$ in!

Anonymous said...

12:03. You mean small businesses, jobs, things that will actually improve our economy?

Anonymous said...

Got any left for GM?

Anonymous said...

"Critical for small businesses"... that are owned by friends of politicians. This money should go to a school. If your "summer in a jar" is so delicious and refreshing then get off your lazy @$$ and find investors instead of getting your friends in high places to pick my pocket.