Small Business Loans

At Baltimore Community Lending, we believe in entrepreneurs.

That's why we offer small business loans and micro-loans to startups and entrepreneurs who have a good business model and reasonable credit, but lack collateral or face other barriers to traditional financing. Our service area is Anne Arundel County, Baltimore City, Baltimore County, Carroll County, Harford County, and Howard County.

Our flexible lending criteria means we can support a variety of needs, and our financing is often pivotal to determining whether a project moves forward or not. We also partner with institutions to meet the needs of various small business owners.

All applicants must complete BCL’s small business training requirements and submit a written business plan with accurate and reasonable financials. Our dedicated, locally-based small business team provides comprehensive, ongoing support throughout the entire loan process.

Millennial African American Woman businesswoman on the phone in

Benefit from our technical assistance and capacity-building trainings, and our innovative and flexible financial assistance, to make your vision a reality. For more information about our Small Business Loan program, including detailed application requirements, contact Small Business Loan Associate Jaclyn Whitley at or by phone at 410-319-0732.

Emerging Loans for startups, emerging or existing businesses.

  • $10,000-$50,000
    3-6 year terms

Growth Loans for entrepreneurs in business for at least two-years.

  • $50,000-$150,000
    5-10 year terms

Interest rates range from 7.25% - 9.25%

Funds made be used for business purposes only, such as:

  • to purchase inventory, supplies, and materials
  • to build-out a leased or owned business office or retail space
  • to purchase or lease furniture fixtures, machinery, and equipment
  • for operating capital
  • All owners of 20% or more of the business must sign a personal guarantee.
  • Borrowers cannot have a bankruptcy that was resolved less than two years ago.
  • Borrowers cannot have an outstanding debt to the IRS unless they have entered into a written repayment agreement with the IRS.

At BCL, we put a lot of focus on owner experience and the management team, especially for startups. Business and owner credit history matters, but we don’t have a credit score cutoff number—we look at the applicant’s whole story.

All businesses must submit a business plan and business financials, including tax returns and bank statements. Each business owner and guarantor must provide personal financials as well. We charge an application fee of $100, and a credit report fee of $40 for each owner and guarantor.