Funding enhances business education, access to capital and zero-interest loans for local entrepreneurs
BALTIMORE, Md., July 1, 2024 — M&T Bank is proud to announce a significant donation of $100,000 to Baltimore Community Lending (BCL) in support of the Kiva Online Lending Platform (Kiva). This contribution underscores M&T Bank’s commitment to the revitalization and empowerment of underserved communities in the Greater Baltimore region.
The funds will support the construction of a new business education center scheduled for completion in late 2024. Additionally, the donation will facilitate the hiring of a capital access manager and cover the Kiva hub fees for the first two years, significantly enhancing the support infrastructure for local entrepreneurs.
"This donation represents M&T’s enduring commitment to driving economic growth and sustainability in Baltimore,” said Brian Walter, M&T Bank Regional President for Greater Baltimore. “By supporting BCL and Kiva, we are directly investing in the future of local small businesses and our broader community."
BCL will assist small businesses as they apply for 0% interest loans through the Kiva program. This initiative will not only provide critical financial support but also offer a platform for entrepreneurs to engage with crowdfunding and share their unique stories with a broader audience.
"We are proud to partner with M&T Bank on this initiative,” said Watchen Bruce, President and CEO of Baltimore Community Lending. “Their support enables us to further our efforts in empowering entrepreneurs and strengthening the economic fabric of our communities."
Lyndsae’ Peele, Kiva Entrepreneurial Ecosystem Manager, added, "Kiva is excited to expand our ability to provide zero-interest loans and valuable exposure to countless aspiring business owners, helping them to succeed and thrive in a competitive market."
About M&T Bank
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, provides banking products and services in 12 states across the northeastern U.S. from Maine to Virginia and Washington, D.C. Trust-related services are provided in select markets in the U.S. and abroad by M&T’s Wilmington Trust-affiliated companies and by M&T Bank. For more information about M&T Bank, visit www.mtb.com.
About Baltimore Community Lending
Baltimore Community Lending, Inc., is a 501(c)(3) nonprofit Community Development Financial Institution (CDFI) and mission-based lender serving the Baltimore metro area. BCL is 100% dedicated to delivering responsible, affordable lending products to help low-income, low-wealth, and other disadvantaged people and communities join the economic mainstream. BCL makes loans and provides training to small business owners and real estate developers committed to developing underserved neighborhoods.
About Kiva Online Lending Platform
Kiva is a global nonprofit, founded in 2005, with a mission to expand financial access and help underserved communities thrive. Kiva unlocks capital for borrowers through crowdfunded loans supported by individuals around the world. Lenders on Kiva can start with as little as $25 to support causes that matter most to them, whether that’s gender equity and support for women, refugees, climate change, small businesses, agriculture, and more. Since our founding, over two million people have invested $1.9 billion in real dreams and real opportunity, spanning more than 90 countries and 4.7 million borrowers.
Media Contact:
Neil Dhillon
ndhillon@mtb.com
(202) 768.1071
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