Useful resource Roundup: Harbor Financial institution and Cerebro Capital have $50M in loans for Baltimore small biz


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Baltimore fintech firm Cerebro Capital is partnering with the Harbor Financial institution of Maryland to offer $50 million in a devoted mortgage program for minority-owned small companies within the Baltimore area.

Utilizing Cerebro’s digital mortgage matching platform, Harbor Financial institution is seeking to present loans as giant as $2 million to small companies that apply by the Cerebro Capital program. Companies that qualify can anticipate time period sheets inside 24 enterprise hours, and different no-cost perks. The good thing about going by Cerebro is to streamline the method and get capital extra shortly to minority entrepreneurs, who’ve historically been underserved by the business credit score market.

“Partnering with Cerebro will permit us to leverage Cerebro’s know-how and processes making it simpler and quicker for deployment of capital into the minority enterprise neighborhood,” Harbor Financial institution SVP and Chief Lending Officer Stanley Arnold mentioned in an announcement.

Apply for a mortgage

Cerebro launched a report final yr that confirmed business lending exercise choosing up throughout the pandemic. This week’s mortgage announcement additionally comes on the heels of the corporate hiring two new managing administrators of credit score origination.

GoDaddy’s Empower program

GoDaddy is doing its half to assist the microbusinesses in Baltimore: The internet hosting firm’s new Empower program is coming to Influence Hub Baltimore this month. Anticipate 5 cohorts all year long for this six-week, in-person studying cohorts centered on net and digital presence.

Microbusinesses are the folks promoting meals platters on Instagram, promoting commissions for artwork, or styling hair and utilizing a web site to guide appointments — a hustler by another title. Within the Baltimore metro space, there have been 192,000 on-line microbusinesses as of summer season 2021.

The Empower program, outdoors of the technical help and experience of GoDaddy, gives a free GoDaddy area to contributors. You possibly can register for the free launch occasion occurring the night of Feb. 17 at Influence Hub. Though the primary Empower cohort is full, the second cohort is open for registration.

Register for the second cohort

Baltimore Artist Navigator

Artist in Baltimore who’re attempting to guide venues, discover consultants in numerous disciplines, or get grants to fund their initiatives now have the Baltimore Artist Navigator as a useful resource.

Powered by social change nonprofit Baltimore Corps and designed by EcoMap Applied sciences, the platform additionally offers one-on-one free consultations to the Baltimore’s obtainable assets, connections with organizational companions and different creatives.

Test it out

28 Days of Black Futures

Baltimore-based social change org CLLCTIVLY is working a monthlong marketing campaign known as 28 Days of Black Futures, highlighting Black-led teams serving Larger Baltimore. Its aim is to boost $100,000 to help organizations which have traditionally been underfunded.

Whether or not you donate or not, the 28-day marketing campaign is an opportunity to seek out 28 Black organizations doing work to alter the lives and outcomes for folks in Baltimore on a regular basis. You would possibly even study a program or mission championed by native Black leaders and social affect entrepreneurs that would both assist or encourage your personal journey.

Test it out

FastForward assets

John Hopkins College program FastForward is providing a mess of assets to native entrepreneurs.

  • The Ignite Fund for pupil entrepreneurs gives $500 to $1,000 to Hopkins college students to maneuver ventures ahead on a rolling foundation all yr.
  • The FastForward U summer season incubator for college students is accepting admissions till March 1. Contributors will obtain free housing and a $1,250 grant for extra help.
  • The Innovation & Entrepreneurship Problem for alumni and college students gives a number of prizes within the $10,000 or extra vary for ventures that apply by the deadline of March 1.
  • HopStart: Hopkins New Enterprise Problem is on the lookout for the perfect marketing strategy. Pupil ventures have the chance to win as much as $5,000 in prize cash.

Donte Kirby is a 2020-2022 corps member for Report for America, an initiative of The Groundtruth Mission that pairs younger journalists with native newsrooms. This place is supported by the Robert W. Deutsch Basis. -30-

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