Rural West Fund Mountain Maryland Entrepreneurial Development Center, Inc.
101 Decatur Street, P.O. Box 1835
Cumberland, MD 21501-1835
Telephone: (301) 777-9301
Fax: (301) 777-9397
Website: www.mmedc.org
Email:
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Key Personnel: Ted Higson, Fund Manager
Established: 2002
Total Committed Capital: $1.1 Million
Amount Invested: $240,000
Geographic Focus: Western Maryland
Background
The Rural West Fund (RWF) is a wholly owned investment program of the Mountain Maryland Entrepreneurial Development Center, Inc. (MMEDC) RWF is a near-equity fund providing growth capital for businesses in Maryland's Garrett, Allegany, and Washington Counties.
Social Mission
The MMEDC is a non-profit organization dedicated to stimulating and supporting economic development through entrepreneurship in Maryland's western region. The MMEDC strategy is to promote economic development through the provision of financial resources and operational assistance to growing regional companies. The MMEDC has been working to support entrepreneurship in western Maryland since 1999.
Investment Information
The Rural West Fund invests in start-up and growth phase businesses in Western Maryland. RWF employs a near-equity investment model, generating returns through traditional interest rates, revenue-based returns, warrants, debt-to-equity conversions and/or other securities. The average investment size is $150,000.
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