Baltimore Business Lending, LLC, a wholly owned subsidiary of Baltimore Community Lending, Inc. , is a new small business lending program designed to provide capital to emerging and growing small businesses that are creditworthy, but lack the equity or collateral necessary to qualify for traditional lending resources. The purpose of the program is to ensure access to capital for small business creation in Baltimore.
This will provide employment opportunities to strengthen the economy of the City and increase the availability of goods and services to area residents to further the revitalization and stabilization of challenged neighborhoods. Baltimore Business Lending (BBL) provides small business loans to for-profit organizations located in Baltimore City.
The product is a small business micro-loan specifically focused on small, emerging and start-up businesses. Loan Amounts. Loans are available in amounts ranging from $10,000 to $50,000. Interest Rate. Currently, the interest rate is fixed at 9. 25%. Loan Term. Loan terms range from 3-7 years.
EcoMap Baltimore is here to help entrepreneurs find the resources they need to build startups, small businesses, and nonprofits in their communities.