The Baltimore Micro Loan Fund

The Baltimore Micro Loan Fund provides existing and start-up small businesses with financing for working capital, furniture, fixtures, machinery, and equipment. The loans are for amounts between $5,000 to $30,000, with the objective of stimulating employment, assisting small businesses in obtaining fixed rate financing, and to encourage private sector investment in Baltimore City. Applicants must be one of the following for profit entities: sole proprietor, partnership, corporation, or LLC. For more information, please contact or call 410-837-9305.

VLT Revolving Loan Fund

Baltimore Development Corporation (BDC) serves as a manager of Maryland’s Small, Minority and Women-Owned Business loan fund, which receives a percentage of Video Lottery Terminal (VLT) revenue from Maryland casinos. The VLT loan funds are specifically targeted for small, minority and women-owned businesses located within 10 miles of an open casino site. Businesses may be eligible for loans between $30,000 to $300,000 for purposes such as business acquisition, commercial real estate acquisition, the purchase of furniture, fixtures and equipment, leasehold improvements, and working capital. For more information, please contact or call 410-837-9305.

Revolving Loan Funds – EDA/RLF AND MILA/RLF

BDC’s Revolving Loan Funds may be used for acquisition and improvement of land, facilities and equipment, including demolition, site preparation, renovation and new construction. These loans are for up to $500,000 or 35 percent of the project cost, and may also be used for working capital with restrictions. The loan program funds may not be used for relocation from a surplus area or investment activities and are not available to applicants with a current outstanding RLF loan, or to applicants who have received accumulated assistance from the RLF of $150,000 within the previous five-year period.

Eligible businesses are for-profit corporations, partnerships or proprietorships. Financial institutions, consulting firms, real estate companies, not-for-profit businesses, developers, or unregulated media are not eligible. For more information, please contact or call 410-837-9305.

City General Obligation Bonds

City Bond funds are generally restricted to capital projects, which may include bricks and mortar, improvements, equipment purchases, or other real estate related projects. These loans cannot exceed 35 percent of project costs and are subject to availability. Eligible businesses are for-profit corporations, partnerships or proprietorships. Ineligible businesses include, consulting firms, real estate companies, speculative developers, unregulated media, investment or speculative activities. For more information, please contact or call 410-837-9305.