Revolving Loan/Working Capital Loan Funds (RLF/WC and MILA/RLF)

Revolving Loan Funds may be used for acquisition and improvement of land, facilities and equipment, including renovation, demolition and site preparation and new construction. The funds may also be used for working capital with restrictions. The funds may not be used for relocation from a surplus area or investment activities and are not available to applicants with a current outstanding RLF loan, or to applicants who have received accumulated assistance from the RLF of $150,000 within the previous five-year period.

Eligible Businesses:
For-profit corporations, partnerships or proprietorships.

Ineligible Businesses:
Financial institutions, consulting firms, real estate companies, not-for-profit businesses, developers, or unregulated media.

Loan Limits:
Maximum of $500,000 or 30-35% of project costs.

City General Obligation Bonds

City Bonds are generally restricted to guarantees and capital projects – “brick and mortar” improvements. Refinancing is not permitted.

Eligible Businesses:
For-profit corporations, partnerships, proprietorships and some non-profits.

Ineligible Businesses:
Consulting firms, unregulated media, real estate companies, investment or speculative activities, speculative developers, and retail.

Loan Limits:
Eligible projects and loan limits are determined by The Baltimore Development Corporation (BDC) and may not exceed 30-35% of project costs; this is subject to availability of funds, number of jobs created, and industry type.

For all loans, approval is required by BDC’s Loan Committee and by the City’s Board of Estimates. In some instances, approval by the City’s Board of Finance may also be required.

For more information about BDC’s Loan Programs, contact Jeff Pillas.