Audacious Inquiry has announced that it secured a line of credit from M&T Bank, the small business bank of choice in the region. The facility provides up to $500,000 of working capital in support of the company’s growth.
The line of credit is coming off Audacious Inquiry’s recent successes in supporting regional healthcare leaders and the state of Maryland in navigating the increasingly complex health information technology landscape as well as the recent award of the company’s first federal prime contract.
A key driver of growth is the growing need in federal and state government as well as in the private sector for health information technology and web application development domain expertise.
“Helping innovative small businesses succeed is what we do best,” said Lynn Smith, Business Banking Team Leader for the Chesapeake Region. “We have been following Audacious Inquiry for some time, and we are pleased to see the company achieving its objectives. We look forward to working with Audacious Inquiry as it continues to grow in support of its important clients.”
“Our ability to secure this line of credit from M&T Bank in a challenging debt market demonstrates its confidence in our strong team, our past performance, and our leadership position in growing domains,” said Christopher Brandt, managing partner of Audacious Inquiry. “This facility will provide the working capital we require to continue to identify and pursue new market opportunities and inspire greater confidence client and potential client organizations that our small business can tackle increasingly larger problems.”
About Audacious Inquiry
Audacious Inquiry is a management and technology consulting firm with domain expertise in health information systems, web application development and analytical services. The company works in partnership with client organizations, including healthcare provider organizations, businesses, non-profit associations, and government organizations to maximize positive outcomes and minimize the risks of the practical application of information technology. The company is based in the UMBC Research and Technology Park, bwtech@UMBC, in Catonsville, Maryland.
About M&T Bank
Established in 1856 as Manufacturers and Traders Bank, M&T Bank Corporation is one of the 20 largest independent bank holding companies in the U.S., with current assets of $68.2 billion (as of June 30, 2010) and more than 750 branches, free account access at more than 1,800 M&T Bank ATMs and nearly 14,000 employees located in New York, Pennsylvania, Maryland, New Jersey, Washington D.C., Virginia, West Virginia and Delaware. While benefiting from its size, M&T Bank is a local bank that is committed to the communities it serves. In addition to being the #1 SBA lender in Baltimore, M&T is consistently recognized as one of the top charitable companies in the United States. M&T Bank is a member of the FDIC.
bwtech@UMBC (http://www.bwtechumbc.com ) is a 71-acre research and technology community at the University of Maryland , Baltimore County (UMBC). It comprises the technology business Incubator and Accelerator, home to over 30 early-stage high-tech and life science companies, and the Research and Technology Park , with a capacity of 350,000 square feet of office and laboratory space. bwtech@UMBC offers collaboration with university faculty and students, and enjoys a strategic and convenient location, close to downtown Baltimore , BWI Thurgood Marshall Airport , and Washington , D.C. bwtech’s annual economic impact on the state is estimated to be over $300 million.