Baltimore Community Lending (BCL) is announcing an exciting new partnership with Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), to launch a program aimed at providing early-stage financing to entrepreneurs in the Baltimore region. This initiative is made possible through a generous $250,000 grant from the Fulton Forward Foundation, an independent nonprofit foundation funded by Fulton Bank.
This funding will enable BCL to offer investment grants of $10,000 to selected entrepreneurs who have limited access to traditional financing options. Each grant recipient will not only receive financial support but also benefit from business advisory services provided by BCL’s dedicated small business team. Additionally, recipients will collaborate with a Diverse Business Banking Advocate from Fulton Bank, who will monitor their progress and provide tailored assistance. These advocates are specially trained to support the unique needs of diverse business owners, ensuring their long-term growth and success.
At Baltimore Community Lending, we believe in the power of entrepreneurs. Our mission is to provide small business loans and micro-loans to startups and entrepreneurs who have strong business models and reasonable credit but face barriers such as a lack of collateral or other obstacles to traditional financing. Our service area spans Anne Arundel County, Baltimore City, Baltimore County, Carroll County, Harford County, and Howard County.
Through flexible lending criteria and innovative partnerships like this one, BCL ensures that micro-enterprises and small businesses in underserved communities have the resources they need to thrive. Applicants must complete BCL’s small business training requirements and submit a comprehensive business plan with accurate financials. This ensures that every entrepreneur we support is well-prepared for success. Our team provides comprehensive, ongoing support throughout the loan process, helping entrepreneurs achieve significant milestones and contribute to the revitalization of their communities.
“Baltimore Community Lending is devoted to supporting Baltimore area entrepreneurs who are low-income, low-wealth, or otherwise disinvested, and who cannot find support anywhere else. This exciting partnership with Fulton Bank and the Fulton Forward Foundation gives BCL the opportunity to help those small business owners who are not yet ready for a loan, thus preparing them for long-term success,” said Bonnie Crockett, VP and Director of Small Business Lending at Baltimore Community Lending.
“We are excited to launch this new program with our partners at Baltimore Community Lending,” said William “Smokey” Glover, Director of Fair and Responsible Banking for Fulton Bank and President of the Fulton Forward Foundation. “This initiative reflects our commitment to providing access to capital and resources to traditionally underserved business owners. As trusted advisors to these entrepreneurs, we can help support them and continue to grow businesses that serve the whole community.”
“With support from partners like Fulton Bank and the Fulton Forward Foundation, micro-enterprises and small businesses can achieve significant goals. Baltimore Community Lending supports revitalizing and strengthening underserved communities throughout the Baltimore metro area through innovative and flexible financial assistance designed to promote community development,” said Watchen Harris Bruce, President and CEO at Baltimore Community Lending.
About Baltimore Community Lending
Baltimore Community Lending, Inc., is a 501(c)(3) nonprofit Community Development Financial Institution (CDFI) and mission-based lender serving the Baltimore metro area. BCL is 100% dedicated to delivering responsible, affordable lending products to help low-income, low-wealth, and other disinvested people and communities join the economic mainstream. BCL makes loans and provides training to small business owners and real estate developers committed to developing underserved neighborhoods.
About Fulton Bank
Headquartered in Lancaster, Pa., Fulton Bank is a premier community bank in the Mid-Atlantic region. As a subsidiary of Fulton Financial Corporation, a more than $30 billion financial services holding company, Fulton Bank offers a broad array of products and services at 200 financial centers across Pennsylvania, New Jersey, Maryland, Delaware, and Virginia. At Fulton Bank, we seek to change lives for the better by building strong customer relationships, providing significant community support and empowering more than 3,400 employees to do the same. Through the Fulton Forward® initiative, we’re helping build vibrant communities.