Impact investors are launching a $25 million program called Arctaris Baltimore to provide growth capital for businesses based in Baltimore’s historically underinvested neighborhood.
Boston-based Arctaris Impact Investors is partnering with the Baltimore’s Abell Foundation and the City of Baltimore-created Neighborhood Impact Investment Fund to launch the program. Under a model it calls “growth debt,” it’s providing loans of $1 million to 5 million to small and medium-sized businesses. For businesses that are generating steady revenue, it’s the kind of growth capital that often helps to keep things running and growing.
Arctaris hired Anita Graham as business development manager for Baltimore, who is already working in the community, leaders said.
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