Baltimore’s business community is full of potential, but to accelerate progress, Baltimore needs sources of private capital that match the unique needs and challenges of established companies. Arctaris Impact Investors is a national leader in providing affordable growth capital to successful urban businesses that have been declined by traditional bank lenders. Arctaris is committed to partnering with organizations typically led by persons of color that value both profitability and purpose, and that provide entry level jobs and a pathway for economic growth for their employees.
In March 2020, Abell led a partnership with the Neighborhood Impact Investment Fund (NIIF) to bring Arctaris Impact Bond Fund to Baltimore City. Abell’s $4 million and NIIF’s $1 million secured a $25 million fund for Baltimore City expansion-stage businesses that generate new employment. Arctaris also offers Opportunity Zone equity funding that can complement its bond financing.
With a talented team dedicated to the local market, four investments have closed to date in Baltimore, supporting three Black-owned businesses with over 700 full- and part-time jobs at initial closing. These companies include Up-To-Date Laundry, Chimes Solutions, Family Home Healthcare, and Market Fresh Gourmet.
Photo courtesy of Arctaris.