Abell Foundation to invest $4M in local small business loan fund
The Abell Foundation and the local Neighborhood Impact Investment Fund will contribute $5 million toward a new program to assist startups in needy Baltimore communities.
The investments will be part of a $25 million "Arctaris Baltimore" fund launched this week by Cambridge, Massachusetts-based Arctaris, an impact investment group. The Arctaris fund will make loans between $1 million and $5 million to small and mid-sized businesses to boost their growth potential. As loans are repaid, additional new loans will be made on a revolving basis.
Source: Baltimore Business Journal