The initiative is administered by three state agencies through nine programs. Through the Department of Housing and Community Development’s Neighborhood BusinessWorks Loan to Lender program, Lendistry will be able to lend up to $250,000 to small businesses that are owned and operated by Socially and Economically Disadvantaged Individuals; Very Small Businesses; or are in Community Development Financial Institutions Investment Areas.
“The Neighborhood BusinessWorks program is a great resource to stimulate investment in communities that are prime for revitalization,” said Maryland Department of Housing and Community Development Secretary Jake Day. “The funds allow us to go above and beyond the department’s regular lending capacity and serve even more businesses across the state.”