Small, minority and women-owned companies in Montgomery County are now eligible for loans generated by taxes on Maryland’s casinos, according to a state press release. The Montgomery County Economic Development Corporation (MCEDC) will serve as the fund manager and receive an initial allocation of $1.5 million.

The state fund, called the Video Lottery Terminal (VLT) Program, was created to reinsert slot machine taxes into struggling communities surrounding the casinos, with a special emphasis on minority and women-owned businesses. Since Montgomery County does not have any casinos, the MCEDC is required to lend half of its funding to eligible county businesses and the other half to targeted communities throughout the state.