This is an unprecedented time in our history. The COVID-19 pandemic is having an impact on the health of our loved ones, the health of the businesses on which we rely, and the health of our global economy. As we all continue to navigate through these unique and evolving challenges, we want you to know that Baltimore Business Lending is here with you. BBL staff members are working full time remotely and can be reached by email and phone, and can arrange conference calls or Zoom meetings to keep the mission moving forward.
As the increasing impact of the COVID-19 reaches our communities, we recognize that some of our clients may find their businesses struggling. We have reached out to all of our small business borrowers, and we will continue to keep the lines of communication open. If you are a current BBL borrower, please feel free reach out to us again and we will do everything we can to help you through this difficult time, even if all you’re looking for is a sympathetic ear.
Investors and financial institutions that are interested in our specific mitigation plans are encouraged to email Melissa Badeker at melissa.badeker@BCLending.org.
Below are some resources that could be useful for our small businesses impacted by COVID-19. We will keep this list updated regularly during this ever-changing situation, so check back often.
Baltimore SBA Paycheck Protection Program (PPP) – The City of Baltimore has partnered with Goldman Sachs and Lendistry to provide $10 million in potentially forgivable SBA Paycheck Protection Program loans to help vulnerable Baltimore City small businesses, including non-profit organizations, weather the economic impact of COVID-19. This fund targets underserved businesses, including those that do not currently have a relationship with a traditional bank. Lendistry, a Community Development Financial Institution (CDFI) and an SBA authorized PPP lender, is now accepting applications. To apply, click HERE.
Enterprise Development Group (EDG) Paycheck Protection Program – As an SBA qualified lender, EDG accepts applications under the PPP program from small businesses:
Maryland Capital Enterprises (EDG) Paycheck Protection Program – Contact Nick Rudolph, Baltimore Regional Director/WBC Baltimore Coordinator, at firstname.lastname@example.org or 410-900-5715.
SBA Coronavirus Relief Funds – Includes information on the temporary programs, including the Paycheck Protection Program, EIDL Loan Advance, and SBA Express Bridge Loans, established by the CARES Act to provide relief to small business owners.
SBA up to $10,000 ADVANCE on EIDL loans – The CARES Act, which provides assistance for small businesses and non-profits suffering due to the impact of COVID-19, includes the opportunity to get up to a $10,000 Advance on an Economic Injury Disaster Loan (EIDL). This Advance may be available even if your EIDL application was declined or is still pending, and will be forgiven. In order to qualify for the Advance, you need to submit this new application even if you previously submitted an EIDL application. Applying for the Advance will not impact the status or slow your existing application.
Kiva Loans During the Coronavirus Pandemic – A crowd-funding zero interest microloan program currently offering expanded eligibility, larger loans, and a longer grace period. Check out the COVID-19 information site, or contact KIVA Baltimore directly.
Quickbooks/GoFundMe/Yelp Small Business Relief Initiative – These businesses are teaming up to provide microgrants to small businesses that generate $500 on GoFundMe.
Business For All COVID-19 Emergency Grants – Hello Alice with the support of Verizon, Silicon Valley Bank, Ebay, and others is offering $10,000 emergency grants, being distributed immediately to small business owners impacted by this pandemic. If your business has been severely impacted by COVID-19, please complete the full COVID19 Business for All Grant application to apply for immediate support in the form of $10,000 grants.
Reinvestment Fund PPP Loans - Will provide PPP loans to small businesses that revitalize historically disinvested communities, improve conditions for low-income people, and/or support a more environmentally sustainable future.
Baltimore Together Technical Assistance – The Baltimore Development Corporation (BDC) and the Mayor’s Office of Minority and Women-Owned Businesses (SMWB) are partnering with the Support Fund to assemble a technical assistance network that will help small businesses complete applications for appropriate federal, state, and philanthropic financial assistance programs. Baltimore Business Lending is proud to be a member of the network offering technical support.
Loyola Crisis Navigators – Loyola University Maryland’s Center for Innovation & Entrepreneurship has created Loyola Crisis Navigators, a volunteer team brought together to advise small business owners during this time of stress and extreme market conditions for small businesses, nonprofits, and startups. Schedule appointments for virtual consultations with trained business experts, who can suggest innovative pivots to your operating model, provide counsel in decision-making, as well as explore additional resources, including new emergency loan and grant options.
EcoMap Baltimore COVID Business Resource Dashboard – Navigating the effects of COVID as a business owner can be tough, so instead of a giant list, EcoMap Baltimore put together this interactive database to help you find what you need.
Stand By Baltimore - A comprehensive database of Baltimore small businesses that are offering gift cards and/or delivery. Business owners can list their businesses and customers can purchase gift cards.
SBDC COVID-19 Assistance – Helpful resources for Baltimore small business owners.
Maryland Business Express – A state webpage that provides comprehensive information about employer and worker assistance, financial assistance and taxes, licensing and permitting, enforcement, and other issues.
Maryland Coronavirus Information for Businesses – Business closures and restrictions, resources for businesses.
Women of Color e-Lab – Under SheaMoisture's $1Million Community Commerce Fund, the brand will create an e-learning platform for women of color entrepreneurs to continue to gain education, access to resources, mentorship, and advice on how to prepare for the economic downturn.
CDC Resources for Business and Employers – The official federal site offering interim guidance on COVID-19, including cleaning and disinfection recommendations.
U.S. Chamber of Commerce Coronavirus Toolkit - Customizable media assets, graphics, posts, and more. They can be shared on social media, websites, and additional channels to inform your customers and others.
Baltimore City Health Department – Information, resources, and updates.
Centers for Disease Control and Prevention – Information, resources, and updates.
Johns Hopkins Coronavirus Resource Center – Information, resources, and updates.
The Office of the Governor of Maryland – Information, resources, and updates.
Baltimore City COVID-19 Food Distribution Sites - This application shows which Baltimore City sites are serving as food distributions locations during the COVID-19 related school closures and other social distancing measures.