Did you know Baltimore City has a minority developers initiative that puts investment money in the pockets of eligible businesses? The initiative is live and has funded several local companies as recently as June, 2017. The Bank has a major goal of improving the stability of Baltimore City neighborhoods by nurturing minority-owned businesses.
Beyond providing seed money, the bank has two on-staff business development experts who help identify Baltimore companies with viable business plans that can’t quite qualify for traditional business financing. Services include helping develop business plans and budgets, reviewing alternative financing options, and, in some cases, providing direct small equity investments to provide validity to a local business plan as a means to attract more investment volume.
Harbor Bank is Baltimore’s largest minority-owned bank, with offices at 25 W. Fayette Street in Baltimore. Their emerging developers overall initiative took shape just a few years ago, and awards of $40,000 have been issued to local businesses like Implicit Solutions, GameChangeHer and Panacea Co. as recently as June.
UrbanLand Company is a privately owned real estate brokerage with headquarters at 913 Florida Avenue, NW and new offices opening soon in Trinidad and Baltimore’s Hampden commercial district (near Johns Hopkins!).
Check out our own ongoing coverage and thoughts on Baltimore City from UrbanLand Company’s Baltimore blog.
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