Initiative for a Competitive Inner City, Inc.
ICIC will bring Inner City Capital Connections (ICCC) to Baltimore, a business technical assistance program started in 2005 to help urban entrepreneurs better position themselves to access capital, increase revenues, grow their businesses and create jobs. The program specifically targets companies located in areas with high rates of poverty and unemployment, and they accept businesses that draw 40 percent of their employment from economically distressed communities. Grant funds will be used for stipends and travel of business school professors and finance professionals providing the training in Baltimore City.
Latino Economic Development Center
Latino Economic Development Center offers access to business resources and capital to meet the needs of underserved communities and communities of color in Baltimore. Their small business coaches provide one-on-one technical assistance and workshops/courses related to business planning, financial management, incorporation, licensing and permitting, accounting, marketing, and technology integration. Lending staff are trained to provide micro-loans ranging from $500 to $50,000 and larger loans up to $250,000.
Southeast Community Development Corporation
SECDC will consult with the CASH Campaign of Maryland (CASH) for their expertise to provide training and technical assistance to the organization’s housing counseling team. CASH will conduct an analysis of current practices and staff capacity in the area of financial capability. They intend to develop a financial coaching program that is integrated into SECDC’s homeownership counseling service delivery and will train staff in financial coaching techniques to comprehensively serve Baltimore City households, particularly among low income communities of color.
Venture for America
Venture for America strengthens entrepreneurship, business formation, and economic growth by attracting top talent students to work in start-up and early-stage companies. Since 2013, VFA has placed 110 Fellows in Baltimore City for two-year fellowships with more than 50 high-growth companies and startups, and they have supported the launch of nine Fellow-founded companies. Of 15 participating cities, Baltimore is the second largest program and boasts the highest post-Fellowship retention rate.
Waterfront Partnership of Baltimore, Inc.
Baltimore’s Mr. Trash Wheel has successfully operated at the mouth of the Jones Falls since 2014, collecting over 2 million pounds of trash and debris which would otherwise litter the Harbor, including a mattress, a keg, a guitar, a ball python, 11.3 million cigarette butts, 1 million foam containers, 880,646 plastic bottles, and 649,000 plastic bags. In need of upgrades, grant funding will enable mechanical repairs and cosmetic improvements that are beyond the scope of routine annual maintenance and operations.