Maryland's $4.5 Million Loan Unlocks $9 Million in Lending for Baltimore Small Businesses to Buy Their Buildings
The Maryland Department of Housing and Community Development announced on November 5 a $4.5 million Loan to Lender award to the Neighborhood Impact Investment Fund (NIIF). Matched with an equal amount of private capital, the award creates about $9 million in lending capacity dedicated to helping Baltimore small businesses buy or renovate the properties they occupy.
The fund is expected to support four to six loans of $1.5 million to $2 million each. DHCD Secretary Jake Day said ownership is the surest way to keep neighborhood businesses from being priced out by rising rents, and NIIF President Mark Kaufman said the fund will prioritize businesses rooted in their communities and employing local residents.
NIIF has closed more than 55 transactions since 2019, leveraging over $800 million in investment. Its first Own Your Future loan in 2025 helped The Cube CoWork purchase a 13,000-square-foot building on Harford Road, converting rent into an owned asset.
Applications are taken directly by NIIF; borrowers must show the property is owner-occupied and that the business will keep operating in Baltimore. DHCD says it will publish lending progress and recipient lists quarterly.
(Source: Maryland Department of Housing and Community Development)
Source: Maryland Department of Housing and Community Development
Published by GSM · USA (original Chinese edition)
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