Aspiring small business owners in Baltimore are gaining a powerful new ally, right in the heart of downtown.
Baltimore Community Lending (BCL) will launch its new headquarters and Business Development & Resource Center (BD&RC) on June 18, 2025. The new facilities at 301 N Calvert St. reflect BCL’s recent expansion of its mission to revitalize Baltimore’s underserved areas and transform the region’s economic landscape.
Founded in 1989 with the goal of strengthening Baltimore neighborhoods, BCL initially kept its focus on housing-specific services: providing access to capital for small real estate developers and facilitating affordable housing opportunities to community members. In 2017, BCL became a member of the National Community Reinvestment Coalition (NCRC). In 2018, BCL expanded its services to include small business loan products.
“No community is built [through] housing [alone],” said Watchen Bruce, who has steered the Baltimore-based Community Development Financial Institution (CDFI) and mission-based lender since 2019. “Economic development is important to a full-service community. We needed a holistic approach, [which] included the whole ecosystem of the business lifecycle.”
Bruce’s expansion of how the group fulfills its commitment to Baltimore’s historically marginalized communities is guided by a vision to position BCL as a citywide catalyst for economic equity. The new facility opening this June reflects how Bruce and her team have expanded access to financial tools that empower local entrepreneurs.
In 2020, BCL initiated plans to create a centralized facility for business development – including coaching, training and technical assistance programs – to enhance its established funding mechanisms for clients.
In 2023, BCL purchased a 25,000-square-foot building in the heart of Baltimore. The newly renovated, state-of-the-art space spans four floors, all dedicated to supporting entrepreneurs as they launch, grow and scale their businesses. Fostering business incubation, the BD&RC will offer working spaces to small nonprofits and businesses at below-market rates. As Baltimore’s newly designated hub for the global nonprofit Kiva, BCL also provides access to interest-free micro-loans.
“We [will be] Baltimore’s one-stop-shop for comprehensive business development services instead of people going to five or more places and still not getting what they need,” Bruce said.
While BCL will serve as the host organization, Bruce emphasized the resource center’s purpose is to establish a collaborative network, including attorneys, accountants, bankers and other industry professionals.
“We invite organizations throughout the entire business ecosystem to work with not just our clients, but anyone who needs business development services,” she said. “My mantra is ‘Capital Plus.’ The goal is to think outside the box – to not just give capital alone, but also focus on what happens after the loan and how to grow.”
Originally from Liberia, Bruce – with over 35 years of experience in finance, economic growth and international development – joins a growing movement to reshape the narrative and economic landscape of Baltimore.
United by a mission to support underserved communities, BCL and NCRC recently collaborated on a Capitol Hill visit to brief congressional leaders on policies vital to sustaining CDFIs. Bruce credits this and other partnerships – and the dedication of her staff – with helping BCL expand its transformative work.
“As CDFI professionals, we’re passionate about helping people develop businesses and create wealth for themselves and their families,” said Bruce. “That’s what makes us different. We’re hands-on. We create friendships and partnerships. We help lift people from the bottom up. That’s what it’s all about.”
Nicole Rothstein is a Contributing Writer.
Photo of BCL’s new BD&RC facility courtesy of the Baltimore Community Lending team.
