Small Business Investment Grant Application

Countdown to Small Business Grant Applications!

Will be LIVE on Monday February 3, 2025

 

 

 

Early-Stage Investment Small Business Grant

Baltimore Community Lending, Inc. has received $220,000 in grant funding from Fulton Bank to make 22 discretionary grants of $10,000 each to small businesses located in Baltimore City and the surrounding area.

 

Businesses must meet the following eligibility requirements in order to apply for this grant:

  • Businesses must be for-profit.
  • Business must be located in Baltimore City or the surrounding counties of Anne Arundel, Baltimore, Carroll, Harford, and Howard.
  • Businesses must have annual gross revenues of no more than $200,000 ($0 to $200,000).
  • Sorry, no restaurants.
  • No types of businesses that would be ineligible under BCL’s or Fulton’s small business loan policies, (e.g., adult entertainment businesses, cannabis dispensaries, gas stations, establishments storing or handling hazardous materials, etc.).

 

GRANT TERMS AND CONDITIONS

Grantee shall maintain a complete and accurate record of the use of the grant funds and the outcomes achieved.  Within six (6) months of receiving the grant funds or as otherwise requested by BCL, Grantee shall complete a Grant Report on a form provided by BCL and shall submit the report and any required attachments by the deadline requested.

The Grant Report may include, among other things, how the grant funds were used and the specific outcomes, which may include updated revenues, information on employees hired or retained, and other information about how the grant funds enabled Grantee to start, stabilize and/or grow the business.  Updated financials may be required.

If any portion of the grant funds awarded to Grantee have not been spent prior to submitting the Grant Report, Grantee shall explain why the funds have not been spent and how Grantee plans to spend the funds, which shall be no later than one year from the award date.

If the Grantee closes its business for any reason prior to completing the Grant Report, Grantee will notify BCL within ten (10) business days of such closure, and will explain the reasons for closure, providing the detail regarding how the grant funds were spent, and why the Grantee was unable to or chose not to stay in business despite receiving the grant.

Grantee may be asked from time to time to consent to BCL “telling Grantee’s story” as it relates to the grant on social media and through other public outreach.  Grantee agrees that such consent will not be unreasonably withheld.

By signing and submitting a Early-Stage Investment Small Business Grant application, you acknowledge that you have reviewed, understand, and agreed to these terms and conditions.  Information on BCL’s Privacy Policy may be found here.

Completed applications (including all required attachments) must be submitted no later than 5:00pm, March 3, 2025.

If you have any questions or require any additional information, contact BCL’s Small Business Lending division email us or call 443-319-0732.