BaltimoreMICRO: small businesses can apply for up to $30K through new micro-loan program - Technical.ly Baltimore

Nov. 27, 2012 9:30 am

BaltimoreMICRO: small businesses can apply for up to $30K through new micro-loan program

A new micro-loan program for Baltimore’s small businesses was unveiled by Mayor Stephanie Rawlings-Blake the day before Thanksgiving, reports the Baltimore Business Journal: From the report: BaltimoreMICRO will allow small businesses — like retailers, contractors and service providers — to apply for loans from $5,000 to $30,000. To be eligible, the business must be based in […]

A new micro-loan program for Baltimore’s small businesses was unveiled by Mayor Stephanie Rawlings-Blake the day before Thanksgiving, reports the Baltimore Business Journal:

From the report:

BaltimoreMICRO will allow small businesses — like retailers, contractors and service providers — to apply for loans from $5,000 to $30,000. To be eligible, the business must be based in Baltimore City and not have annual revenue exceeding $1 million. The owner of the business must have a personal credit score of 650 or higher. [more]

Ultimately, the point of the loan program is to create and keep businesses and jobs in Baltimore city, something crucial for the mayor to realize her goal of bringing 10,000 families into the city in the next decade.

BaltimoreMICRO itself will be administered by the Baltimore Development Corporation, the same organization that oversees the Emerging Technology Center and just named Brenda McKenzie as its new president.

As of Nov. 21, the city’s Board of Estimates approved a $125,000 contribution toward the MICRO fund.

-30-
JOIN THE COMMUNITY, BECOME A MEMBER
Already a member? Sign in here

Advertisement

This platform shares #opendata on the Baltimore County budget

Georgia economic leaders paid a visit to Maryland cyber centers

Adashi Systems is helping first responders go paperless

SPONSORED

Baltimore

Building a data acquisition system? Don’t make this mistake

Baltimore

b.well

Healthcare Data Engineer

Apply Now
Baltimore

14 West

Senior Software Engineer (Java + Apache Spark)

Apply Now
Baltimore, MD

SmartLogic

Account Executive (Baltimore)

Apply Now

How an astrophysicist is contributing to Baltimore’s blight fight

The feds spelled out these 5 tech reforms for Baltimore police

Baltimore County summons Stormfighter to keep from getting buried during snowstorms

SPONSORED

Baltimore

How SmartLogic accelerated these startups’ product growth trajectories

Baltimore, MD 21201

14 West

Junior Database Administrator

Apply Now

Sign-up for daily news updates from Technical.ly Baltimore

Do NOT follow this link or you will be banned from the site!