They provide a Level Up Program which is designed to assist small and minority owned businesses in Prince George’s County with training, technical assistane, mentorship, and loans.Read More: FSC First
They provide loans for small businesses and promote economic development in Eastern Maryland.
They provide the following loans:
They provide startup loans of $5,000 to $35,000 to companies that have been denied a loan by a bank.
They also offer expansion loans of $5,000 to $150,000 for companies that have been in business for 2 years.
Both loans carry an interest rate of 6% to 12% and a term of up to 10 years.
This lender Provides loans which are designed to promote entrepreneurship in underserved communities in Baltimore. They offer emerging loans of up to $50,000 for startups with a loan term of 3-6 years. They also offer growth loans of up to $150,000 for companies that have been in business for at least two years. The loan term is 5 to 10 years.The interest rate is 7.25% to 9.25% for both emerging and growth loans.They also offer a special loan rate of 3% for hair salons, barbershops, childcare centers, and arts-based businesses in partnership with Wells Fargo. They are unable to accommodate restaurants at this point.Read More: Baltimore Community Lending
This program provides loans for small business owners in cooperation with micro lenders in the state and seeks to increase the availability of lending for small businesses in the state.
The project is designed to assist retail, manufacturing, and goods and service-related businesses.
The business must be located in a designated area called a Sustainable Community area. The small business cannot have more than 5 employees and $500,000 in annual revenue at the time of application for funding.
The micro loan portion of the loan cannot exceed $50,000, and the loan interest rate is less than 12%. The loan term cannot exceed 5 years.
They also provide ShopHer, a pop-up incubator for 15 female entrepreneurs who own businesses in fields such as the arts, clothing and jewelry inspired by products from the USA, Uzbekistan, Africa, Mexico, and other global areas.Read More: Washington DC Women’s Business Center
The goal of this organization is to provide support to minority entrepreneurs in the form of business education and mentoring in areas including marketing, sales, and financial management.Read More: 1863 Venture Fund
The goal of this organization is to increase the flow of private capital into traditionally underserved communities. Their Community Investment Fund is designed to reduce the racial wealth gap by providing funding for entrepreneurship and low-income housing.
They offer the following loans for low-income entrepreneurs:
They provide microloans of $50,000 or less.
They also provide small business loans of $50,000 to $275,000
They also provide loans for green impact businesses of an unspecified amount.
They offer the following loans:
A credit building loan which is between $500 and $2,500 and has a 0% interest rate and 36 monthly payments. They also offer personalized financial education along with the loan.
They also offer SEED Loans of less than 5K for companies that have been in operation for less than a year or with plans to launch within 3 months of getting funded. This loan is offered at 0% interest for up to 36 months.
In addition, they also offer a startup loan of up to 20K with an interest rate of 6.5% and for 60 months for companies that have been in business for less than 2 years.
They also offer a loan of up to 250K for growing companies of up to 120 months and an interest rate of 6.5% ore more for companies that have been in business for at least 2 years and are looking to expand.
This co-working space is designed to provide support and opportunities for women and minority-owned businesses and was acquired by WACIF in 2021.Read More: The Hive
Their focus is working with minority and women minority entrepreneurs from low-income and moderate-income communities.
They provide microloans of $5,000 to $50,000. The interest rates are up to 10%, and the maximum loan term is 72 months. the permitted uses for the funds include: equipment, inventory, and working capital.
They also offer a contract line of credit for $5,000 to $15,000. The term is up to 12 months, and the interest rate is up to 18%. Also it is used for accounts receivable.
They also provide equipment financing for $5,000 to $50,000. The term is up to 60 months, and the interest rate is up to 18%.
They also offer a working capital term loan for $50,000 to $150,000. The term is 72 months, and the interest rate is 10%.
And they offer a contract term loan for $50,000 to $150,000. The term is 72 months, and the interest rate is up to 18%.
The requirements for all loans include:
Being in business for 3 years
Providing a security interest in all the business assets, and also the personal guarantee of the key owners.
There is also a 3% commitment and servicing fee needed with each deal.
They also offer the following additional programs:
the Ascend Accelerator. This program is designed to support non-technology growing small businesses.
Their Entrepreneurs of Color Fund is designed to provide funding, networking and business advisory services to businesses launched by female minority entrepreneurs.
Through their program Enterprising women of color, they offer these loan products. And they also offer advisory and consulting services that are targeted to female entrepreneurs of color to help them run their businesses. They also partner with the Minority Business Development Agency in order to maximize their services and products for women business owners of color.
They also are offering a grant of up to $10,000 to black retailers in Wards 7 and 8 of Washington DC in cooperation with Walmart. https://ewoc.wacif.org/event/advancing-black-retail-grant-information-session/
In addition, they also offer workshops on digital media and related topics.
Provides microloans and technical assistance to minority owned and small businesses in the Appalachian region of Virginia.Read More: Appalachian Community Capital
Will provide Alternative Lending Products & Technical Assistance for Underinvested Small Businesses in the Greater Richmond Region.Read More: Bridging Virginia
Will provide loans and microgrants for small businesses to help start and grow emerging enterprisesRead More: Community Investment Collaborative (CIC)
The center will create a $575,000 revolving loan fund to help 45-60 low and moderate income Latino and/or other underserved businesses in Fairfax County. The center will also provide culturally and linguistically specialized technical assistance to borrowers.Read More: Latino Economic Development Center
Provide $1.5 million in small and microloans with a focus on small loans for women, minority and/or immigrant-owned businesses.Read More: Freedom First Federal Credit Union Small Business Fund
Provides business loans to immigrants, refugees, low income individuals, and people of color in Maryland, Virginia, and Washington, DC. who cannot access bank financing. They also provide training and technical assistance to borrowers.Read More: Enterprise Development Group
A business incubator which provides mentorship and general support to emerging companies. Is affiliated with William and Mary University.Read More: Launchpad
A business accelerator which provides training and support to emerging companies in Central Virginia
They provide 9 months of support and $20,000 in grant funding plus technical assistance to tech companies in industries such as software, hardware, biotechnology, and biomedical field.
A microlender which seeks to provide support to black, female, veteran, new, and underresourced farmers in Virginia
Mission — Foodshed Capital (foodcap.org)
They provide loans to black farmers
They also provided a $12,000 grant to the Minority and Veteran Farmers of the Piedmont in Virginia to support their efforts to reach mobile markets
Black Farmer Fund — Foodshed Capital (foodcap.org)
A community redevelopment agency which provides microloans of $2,500 to $25,000 to emerging businesses in Bristol, Virginia, that cannot access traditional financing sources.Read More: Downtown Bristol Loan Fund
A community action agency which provides business loans to entrepreneurs in the context of broader economic development and low-income housing programs.Read More: People Incorporated
Provides coaching, mentoring, and general support for small businesses in VirginiaRead More: Virginia Highlands Small Business Incubator
Provides generalized support for startup companies in VirginiaRead More: Virginia Startup
This technology accelerator provides 3 months of mentorship and support to emerging technology companies. They also provide $20,000 grants to 12 to 20 promising technology companies per year.Read More: Lighthouse Labs
This microlender in Fairfax, Virginia, provides microloans of $2,000 to $10,000.Read More: Community Business Partnership
Provides loans of up to $250,000 for companies that create new jobs in low- and moderate-income sections of Newport News. Up to $30,000 is available per new job created, or up to $35,000 per new job created in the city’s enterprise zoneRead More: Newport News Urban Action Grant Program
This government agency provides grant funding of $500 to $3,500 to micro enterprises in the Southeast portion of the city. The business owner must be low to moderate income or located in a low or moderate income section of the city.Read More: Newport News Micro Enterprise Grant Program
This government agency provides microloans to small businesses including startups that cannot access traditional capital sources. They provide funding of $2,000 to $25,000 at 8% interest rates.Read More: Newport News Virginia Microloan Program
This government agency provides loans of up to $10,000 to existing businesses in Virginia that have been in operation for at least two years. In some cases the loan can be increased to $25,000. The loan interest rate is a maximum of Prime + 3%.Read More: Virginia Small Business Financing Authority
• Virginia Community Capital (VCC) will expand its Economic Equity Fund Initiative (EEF), and use $1.5 million of additional funding to provide low-cost financing for small-, women-, and minority-owned businesses across Virginia that were disproportionately affected by COVID-19.
• The additional funds will support 15 or more businesses.
• They will also hire a technical assistance provider specifically for this program.
This economic development agency provides microloans to small businesses of up to 40K through their Pack Fund microloan program. The loans are offered at low interest rates.Read More: Virginia’s Growth Alliance
Funding Opportunities in D.C.Read More: Funding Assistance in DC
DSLBD offers several resources that can assist in your business growth and entreprenuerial journey.Read More: Department of Small and Local Business Development
Virginia funding opportunities.Read More: Funding Assistance in Virginia
The most important step to starting a business is good planning. Fairfax County and its partners offer free support and resources to assist you.Read More: Starting a Business: Plan & Research
Maryland Funding Opportunities.Read More: Funding assistance in Maryland
Find Resources. Connect with Businesses. Navigate the Ecosystem. From funding to talent sources and everything in between, explore over 2,000 resources to build your business in Maryland.Read More: Maryland Entrepreneur Hub
Entrepreneur Support Organizations – Explore the 200+ organizations dedicated to supporting startups, nonprofits, and small businesses in Baltimore.Read More: Baltimore Entrepreneurial Support
As the first national community development financial institution (CDFI) created for the disabled community, DOF provides an array of specific financial services through targeted lending and investments.Read More: The Disability Opportunity Fund
Resources for business management, development and financing.Read More: Entrepreneurial Resources
Providing microloans and training to low-income entrepreneurs who are overlooked by traditional lenders and financial institutions.Read More: Life Asset
We certify disability-owned business enterprises and veteran-disability owned businesses and link them to organizations looking to diversify their supply chains.Read More: Disability:IN
In 2014, the Achieving a Better Life Experience (ABLE) Act was signed into law. The ABLE Act allows people with disabilities to create tax-advantaged savings accounts called ABLE accountsRead More: ABLE
No matter where you are in your business journey, Hello Alice is here to provide access to funding, tools, and resources to help you grow your business.Read More: Hello Alice