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THE CHALLENGE
Black and Latinx households in Baltimore are suffering a housing crisis, even though there are tens of thousands of vacant homes in the City.
Over two out of every three (66%) Black and Latinx households do not have enough savings to cover at least 3 months of their family expenses in case an emergency happened and they lost their regular income. The most affected are women between the ages of 25-54.
59% of Latinx and Black households pay more than 30% of their incomes for rent. This significantly affects their ability to pay for other important bills and build savings. Baltimore has almost 15,000 vacant home lots that could potentially be accessed by these communities. Over1,200 of these vacant lots are city-owned, according to the Housing Authority of Baltimore City.
THE OPPORTUNITY
Many of Baltimore’s mostly Black and Latinx neighborhoods have been historically “red-lined” as poor financial risks by real estate agents and banks. This resulted in a downward cycle of these home properties not being eligible for renovation loans and low sales prices and valuation. To reverse this cycle, the Maryland legislature has approved a special program to help formerly red-lined communities bridge the gap between the cost of improving homes and the real estate appraised value of homes in those neighborhoods.
Additionally, Scott Administration committed $100 million in American Rescue Plan Act (ARPA) funding towards housing initiatives designed to protect residents, prevent blight, create affordable housing initiatives, and implement vacancy recommendations made through Mayor Scott’s 30-day directive to address Baltimore’s vacant housing stock.
THE OPPORTUNITY
Many of Baltimore’s mostly Black and Latinx neighborhoods have been historically “red-lined” as poor financial risks by real estate agents and banks. This resulted in a downward cycle of these home properties not being eligible for renovation loans and low sales prices and valuation. To reverse this cycle, the Maryland legislature has approved a special program to help formerly red-lined communities bridge the gap between the cost of improving homes and the real estate appraised value of homes in those neighborhoods.

Additionally, Scott Administration committed $100 million in American Rescue Plan Act (ARPA) funding towards housing initiatives designed to protect residents, prevent blight, create affordable housing initiatives, and implement vacancy recommendations made through Mayor Scott’s 30-day directive to address Baltimore’s vacant housing stock.

THE PROJECT
Prioritizing Our Women’s Economic Rise is a three-year project supported by JPMorgan Chase that brings together community-based organizations, government agencies, and institutions to accelerate the wealth creation among Black and Latina women in West Baltimore.
RESOURCES
You only have to fill out one inquiry form if you are interested in one or more of our services or resources.
ENTREPRENEURSHIP EDUCATION
access to capital
SKILLS TRAINING
CREDIT BUILDING AND FINANCIAL CAPABILITY
ENTREPRENEURSHIP EDUCATION
Intensive Entrepreneurship Training & Mentorship.
Three-month, 60-hour course in business, workforce, and leadership skills. This program strongly emphasizes the fundamentals of micro-entrepreneurship, combined with the basics of financial literacy and Cooperatives. Time Commitment: 2 Sessions per week for 12 weeks. Cost: No fees. More Information
One-on-one Business Coaching.
Set your goals, design a business model, and establish a work plan guided and supported by a Small Business Coach. Time Commitment: Each participant establishes its own time commitment Cost: No fees.
This program is designed to equip women running an existing microenterprise with tools to accelerate business growth. This program will have optional modules for emerging real estate developers. Time Commitment: 1 Session every two weeks for 4 months Cost: No registration fees. More Information
ACCESS TO CAPITAL
WOMEN'S SMALL BUSINESS FUND
Accessible and low-cost loans from- Women’s Small Business Fund. Accessible and low-cost loans from $2,500 to $250,000 to start or grow your business. Cost: No application fees and 0% interest rate for loans up to $5,000 (APR 0%). More Information
LINE OF CREDIT FOR WOMEN DEVELOPERS
Accessible line of credit between- Accessible line of credit between $200,000 and $300,000 for small and mid-size developers with a vision to rehabilitate properties in low- and moderate-income neighborhoods in Baltimore. More Information
CO-OP CATALYTIC GRANT
Grants up to- Grants up to $40,000 to support the creation of worker-owned cooperatives led by Black and Latina women. Cost: No application fees. More Information
SKILLS TRAINING
Computer Foundations
Build a solid foundation to learn more in an IT (Information Technology) Professional Track. This is a great starting place for adults that have little to no experience with computers. More Information
Apprenticeship Readiness Program
(Building Trades)
Apprenticeship Readiness Program (Building Trades). Start your career in the construction industry by participating in this Apprenticeship Readiness program that prepares participants to apply for, enter, and successfully complete a building trades apprenticeship program. More information
Real Estate Developer Training.
This initiative gives emerging developers hands-on skills in real estate development through training and mentorship.
CREDIT BUILDING AND FINANCIAL CAPABILITY
CREDIT BUILDING PROGRAM
0% Interest loans from- 0% Interest loans from $500 to $2,500 to start building or repairing your personal credit. Work with our advisors to establish financial goals and strategies to improve your credit. Cost: No fees.
MATCHING SAVINGS GRANT
Set your savings goal from- Set your savings goal from $300 to $600 in 6 or 12 months, and you will receive a matching grant if you achieve it. Cost: No fees.
You only have to fill out one inquiry form if you are interested in one or more of our services or resources.
MEDIA
COMMUNITY PARTNERS
If your organization is interested in participating in this program, please reach out to ovelasco@ledcmetro.org
PROJECT EVALUATOR & PROJECT MANAGER

www.ssw.umaryland.edu

www.thevpifirm.com
SPONSOR

www.jpmorganchase.com/impact