The Baltimore Development Corporation (BDC) offers a business loan program with varying types of loans designed to drive job creation and foster sustainable business growth across Baltimore City. The program provides flexible lending terms that are more modest and accommodating than traditional lenders, enabling small and growing businesses to access critical working capital, equipment financing, and leasehold improvements.
This program supports both existing and new businesses, but is designed to provide crucial support to minority-owned and women-owned businesses, ensuring equitable access to capital that encourages private sector investment and strengthens Baltimore’s neighborhoods.
Before Submission Applicants Should Be Ready To Supply Upon Request:
Personal & Business Tax Returns
Current Banking Statements
Profit & Loss Sheet / Cash Flows
Any Current Debt Schedules
Eligible Businesses:
Business Types: Sole Proprietors, Partnerships, Corporations or LLC’s
Startups & Retailers
Service Providers & Contractors
**For Micro Loan Program: Maximum business revenue of $5 million**
General Loan Rquirements:
Borrowers must have operate a business inside Baltimore City boundaries or be in the process of moving their business to the City.
Borrowers must have a minimum personal credit score of 680.
Businesses must show the ability to generate enough cash flow to cover loan payments, with a minimum debt service coverage of 1.20x.
If owners have 20% or more ownership of the business they may be require to personally guarantee the loan.
Collateral may be required depending on the loan type.
Applicants must have federal, state, and local taxes up-to-date, with no outstanding judgments or liens
Loan Guidelines and Underwriting Considerations:
Impact on the neighborhood & introduction of needed goods or services
Project viability and potential & readiness to proceed
Type of commercial improvements & capital costs
Creation of new jobs
Through these efforts, BDC supports the broader goal of building an inclusive economy with meaningful opportunities for Baltimore. The aim of these programs is to leverage public dollars to encourage private investment, thereby spurring continued revitalization efforts in our neighborhoods.
To start the application process please fill out the intake form here. A team member will reach out to you once the intake form is completed.
Loan Requirements are as follows:
