Harbor Bank helping boost Baltimore entrepreneurship with Community Development Corp.
Harbor Bank Community Development Corp., an arm of Baltimore-based Harbor Bank of Maryland, is helping area entrepreneurs nurture their businesses in an effort to improve the economic stability of Baltimore neighborhoods.
Since 2014, Harbor Bank Community Development Corp. has brought in two business development experts with the goal of finding Baltimore companies that can't quite qualify for more traditional bank financing, but show promise enough to take a chance on.
Harbor Bank Community Development Corp. helps area entrepreneurs develop business plans and budgets and secure alternative financing options, something a traditional bank cannot do. The program came to be out of the concern that minority businesses are not securing a fair share of traditional bank financing and venture capital funding, according to Joseph Haskins Jr., chairman, president and CEO of the minority-owned Harbor Bank.