FAQ

  • What is a CDFI?

    A CDFI (community development financial institution) is a private financial intermediary that works in market areas that are underserved by traditional financial institutions. To learn more about CDFIs and our community impact, view our story.

  • What is BCL’s market area?

    BCL works in Baltimore City exclusively. All community development projects financed by BCL must be located within Baltimore City (Maryland).

  • What are BCL’s sources of capital?

    BCL receives capital from a diverse group of investors and donors including banks, individuals, foundations and government. The BCL Loan Fund receives capital in the form of loans or equity contributions. Investors who lend to BCL do so for a modest financial return and high community impact.

  • What does BCL finance?

    BCL engages in a strategic approach to financing that can be broadly divided into the following project areas:

    • Housing, single and multifamily—BCL has helped to finance over 3750 homes for low and moderate income families. We target projects in specific neighborhoods, and focus on stabilizing areas with high potential for market recovery.
    • Mixed used development—BCL offers financing for projects that spur commercial development while blending residential, cultural and institutional growth in neighborhoods.
    • Facilities—BCL provides financing to redevelop property providing services in neighborhoods, such as child care centers and residential group homes.

  • How do I apply for BCL financing?

    BCL offers flexible financing for borrowers in need of loans. Before applying for financing, we encourage you to review the lending section of our website that provides information on financing products and lending criteria. Once you have determined your project’s eligibility, apply for a loan here; or, should you have questions or need additional information, contact BCL at (410) 727-8590. We encourage all prospective borrowers to schedule an interview with a loan officer prior to submitting an application.

  • My project requires capital greater than BCL’s loan limit. Can BCL still help?

    YES! BCL can partner with other lenders to package financing sufficient to meet loan requests greater than our loan limit of $1 million. BCL can also serve as a “gap lender,” providing financing for the amount between what banks and other lenders are willing to lend and the borrower’s equity.

  • Does BCL offer services other than financing?

    YES! BCL provides development services, including training, technical assistance and construction management (work scope reviews, itemized cost estimates, property inspections). BCL also provides workshops and seminars. You can learn about BCL educational events here. For technical assistance or construction management services, contact BCL at (410) 727-8590.

  • How can I support BCL?

    You can invest in the BCL Loan Fund, make a beneficial social impact, and earn a modest return on your financial investment. To learn more, contact Patricia Clements. You can also donate to BCL online, or by check. Businesses and individuals that contribute to BCL may be eligible for Maryland Community Investment Tax Credit. Learn how to turn a fully tax-deductible contribution into a credit of $250 or more here. BCL’s most recent annual report and audited financial summary statement can also be accessed here.

  • More Questions?

    Contact Baltimore Community Lending at (410) 727-8590.