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Baltimore Development Corporation

BDC boosts lending in 2014

BDC boosts lending in 2014

The amount of money loaned by the city’s economic development arm more than quadrupled between 2013 and 2014, according to an audit of the Baltimore Development Corp. presented Thursday at its monthly board meeting. The increase in lending by the quasi-public agency comes as Mayor Stephanie Rawlings-Blake emphasizes assistance to small businesses as part of her development strategy. A report released this week calls on the city to dedicate an additional $500,000 to small loans for start-up firms. The BDC made $577,000 in loans during the fiscal year that ended June 30, up from $130,00 in 2013. About $3.1 million was available in loan funds at the end of June. The...