Small business owners in Baltimore City can now apply to receive funding for pandemic-related challenges through the Baltimore Business Assistance and Support for Equity (BASE) Network’s Economic Recovery Fund.
The network was created in April 2020 to help BIPOC-owned small businesses in Baltimore City access financial assistance during the pandemic.
BASE launched the Economic Recovery Fund in January 2022, which will provide grants and technical assistance to small businesses to help them recover, stabilize, and grow.
In November of last year, Mayor Brandon Scott set aside $55 million in American Rescue Plan Act funds to expand workforce development and create the Economic Recovery Fund.
Five organizations were selected to distribute funding and assistance through the $25 million Economic Recovery fund: the Baltimore Development Corporation (BDC), Baltimore Civic Fund (BCF), Visit Baltimore, Family League of Baltimore, and the Baltimore Office of Promotion and Arts (BOPA).
The Baltimore Development Corporation will award up to $8,405,000 in small business grants in multiple rounds throughout 2022.
Eligible businesses can now apply for up to $50,000 in the first round of grant funding.
Applications will be accepted until Feb. 3.
