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j-ref Funds $250K to Inn at Peralynna Manor and $200K to Booth Management Consulting
Columbia, MD- June 4, 2009 - j-ref, a small business financier in Howard County, loaned a total of $450,000 in May to two expanding businesses in Columbia: $250,000 to the Inn at Peralynna Manor, a boarding house and inn; and, $200,000 to Booth Management Consulting, a professional accounting and management consulting firm.
The loan to Peralynna will be used to retire outstanding liabilities, upgrade the property and for working capital. Booth Management Consulting requested a loan for working capital for contract start-up and hiring staff.
"It's satisfying to assist growing companies during these challenging economic times. j-ref and its resources stand behind these small business owners in forwarding their missions and improving their companies," says Michael Mobley, executive director, j-ref.
The 19-room Peralynna Manor (http://www.peralynna.com), located on Route 108, was founded in 1997 by its owners, David and Cynthia Lynn. Peralynna has received numerous awards, including Best Inn in the U.S., Best Inn in North America and one of the Top 15 Inns Internationally. They have also been rated 10 out of 10 by Zagat.
Established in 2008, Booth Management Consulting, LLC (BMC) (http://www.bmc-llc.net) is a SBA Certified 8a, GSA certified Woman-owned small disadvantaged business with over ten years of experience serving the federal, state and local government. The company is owned by Robin and Phil Booth and is located on Columbia Road, with a second location in Washington, D.C.
Headquartered in the Center for Business & Technology Development in Columbia, Maryland, j-ref is a private, not-for-profit funding source for Howard County start-up and emerging companies. Support for the j-ref program (http://www.jref.org) is available through partnerships with Howard County government, Howard County Economic Development Authority, Howard County Chamber of Commerce, Baltimore Washington Corridor Chamber of Commerce, Howard Community College, local financial institutions, and the local business community. In addition to offering business loans up to $250,000, j-ref works through its strategic partners to offer assistance to small and emerging companies in the areas of business advice, planning, and education.
