Maryland Community Investment Venture Fund
Closed State & local contract opportunity Posted
- Solicitation number
- BPM053867
- State
- Maryland
- Responses due
Opportunity facts
- NIGP code
- UNSPSC code
Opportunity details come from emma.maryland.gov. Updated .
About this opportunity
The Maryland Department of Commerce's Office of Financial Regulation, administering the Maryland Community Investment Venture Fund (MCIV Fund), is soliciting grant proposals for collaborations between financial technology innovation companies and Maryland state-chartered banks and credit unions to serve low- to moderate-income businesses, with proposals due January 15, 2026.
The MCIV Fund was established under the Access to Banking Act (Financial Institutions Article 2-118.1, Annotated Code of Maryland) enacted in 2023. Eligible applicants are Maryland state-chartered banks, credit unions, and fintech companies proposing formal joint initiatives. The scope requires collaborative pilot programs and technology or process innovations designed to address documented barriers that low- to moderate-income businesses face in accessing financial services — including credit, lending, payments, and related banking products. Proposals must demonstrate how the proposed technologies or processes will reduce friction in underwriting, documentation, or service delivery and serve the financial services needs of these underserved communities.
The solicitation invites proposals that show potential for significant positive community impact and alignment with the Moore-Miller Administration's stated policy goal of equitable service delivery. Applicants should address systemic challenges in financial services accessibility through demonstrable innovation. The fund will consider multiple collaborative models, so proposals should clearly define roles and responsibilities between fintech and financial institution partners, expected outcomes, and community benefit metrics.
No specific grant award amounts, funding ceiling, term length, or evaluation weighting criteria are stated in the source material. The solicitation document (Revised - 2025 MCIV Fund Solicitation - OFR - Oct. 25.pdf) is attached; it may contain additional detail on budget limits, scoring rubrics, and required application components.
Opportunity text
At the request of the Moore-Miller Administration, the Maryland General Assembly enacted the Access to Banking Act ("Act") in 2023. The Act, codified at Financial Institutions Article § 2-118.1 Annotated Code of Maryland, created the Maryland Community Investment Venture Fund ("MCIV Fund"). The MCIV Fund seeks to support pathways for Maryland state-chartered banks and credit unions (collectively, "Financial Institutions") to better serve the Financial Services needs of businesses located in Maryland's low- to moderate-income communities (collectively, "LMI Businesses") through the use of new and innovative technologies and processes. LMI Businesses have historically faced challenges attempting to access Financial Services through policies, procedures, and protocols standard in the financial services industry. The MCIV Fund seeks to encourage formal collaborations between Financial Institutions and financial technology innovation companies (collectively, "Fintechs") to develop and implement technologies and processes to address these challenges and better serve the Financial Services needs of LMI Businesses. LMI Businesses possess the ability to make significant positive contributions to their communities and further the Moore-Miller Administration's goal of leaving no Marylander behind. The MCIV Fund previously announced on the MCIV Fund Webpage a willingness to consider applications for grants to support collaborations between Fintechs and Financial Institutions to pilot products and services to better serve the Financial Services needs of LMI Businesses. In connection therewith, the MCIV Fund issues this Solicitation for grant proposals
Files
| File | Type | Posted |
|---|---|---|
| Revised - 2025 MCIV Fund Solicitation - OFR - Oct. 25.pdf | ||
| 2025 MCIV Fund Solicitation - OFR.pdf |
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