Microenterprise/Small Business

Microenterprises play a crucial role in building strong communities. These locally owned, small-scale businesses allow entrepreneurs to build skills, wealth, and other assets as they pursue their dreams. At the same time, microenterprises create jobs for the community. Microenterprises are vital to Baltimore’s local economy. Faith Fund’s market study of the Baltimore region found that existing sources meet only one-third of the local demand for financing by low-income people looking to start or expand microenterprises. Even qualified graduates from the area’s high-quality microenterprise training programs have found it difficult to obtain financing. Faith Fund can help. Faith Fund promotes worker ownership by providing access to capital and technical assistance. Our microenterprise program targets low-income entrepreneurs from households at or below 80 percent of regional median income as defined by HUD. Those at or below 50 percent of regional median income, and those starting or expanding businesses that create further opportunity for other low-income households to build assets, are high priorities.