'Impact Investing' Helps Baltimore Neighborhoods Thrive
Lower-income Baltimore neighborhoods and small businesses are getting a boost from a loan program that's tailored to their needs.
The Baltimore Community Foundation's impact investing program has brought almost $4 million to local businesses and organizations in the past year.
The program, called Invest for More, serves as a source of capital to help minority-owned businesses gain betters access to small business loans and capital, which can be difficult to find.
Patricia Baum, who serves on the foundation’s board, says it looks to work with lending groups that support local neighborhoods.
"One of the things we're doing is a bridge loan to a group called Healthy Neighborhoods, which they go in and try to make homes that are in blighted neighborhoods safer and allergy free," she states.
Source: Public News Service