Top

Maryland Community Investment Venture Fund

Open

BPM059715State & Local

Response Deadline02/28/2027, 12:00:00 AM EST

Contract Overview

Solicitation details, issuing organization, response deadlines, documents, and interested companies for this government contract opportunity.

AI Contract Overview

The Maryland Community Investment Venture Fund, established under the Access to Banking Act, is soliciting grant proposals to foster collaborations between state-chartered financial institutions and financial technology companies. The program aims to develop innovative technologies and processes that improve financial service access for low- to moderate-income businesses in Maryland. Grant requests are capped at 100,000 dollars over a two-year performance period running from July 1, 2027, to June 30, 2029, with a final expiration limit of December 31, 2028. Applications must be submitted as a single PDF with a separate Excel project budget by February 28, 2027. The Commissioner makes final award decisions based on recommendations from an Advisory Board, evaluating factors such as geographic distribution, potential for success, and the project's focus. Awardees are required to designate a Grant Recipient Agent and must adhere to strict reporting requirements, including quarterly assessments of goals and deliverables. Additionally, participating Fintechs must ensure they are lawfully registered to conduct business in Maryland and obtain any necessary licenses from the Commissioner before offering services.

General Info

Maryland grants for fintech and banks to improve low-income business financial access.

Agency

Maryland

NAICS

541512 - Computer Systems Design Services

Place of Performance

MD, USA

Set-Aside

NONE

Documents

rfp

High

AI Contract Breakdown

Uniform Contract Format

Timeline

PhaseSolicitation

PostedNov 12

Solicitation

Response DeadlineFeb 28

Submission deadline

Response Deadline

02/28/2027, 12:00:00 AM ESTin 4 months

Ready to pursue this opportunity?

Get full access to track this contract, build proposals with AI assistance, and manage your pipeline.

Organization & Contact Information

AgencyMaryland

Contacts1 person available

OfficeMD, USA

Organization / Agency

Maryland

Office AddressMD, USA

Contacts

Raelene GLASGOWProcurement Officer / Buyer

Full Description

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.
Additional Instructions: All questions pertaining to this Public Notice should be submitted via email to by February 16, 2027. All questions will be answered in a timely manner, and relevant questions will be posted to the MCIV Fund Webpage at https://labor.maryland.gov/finance/mciv The Grant Period runs for two years from the date awarded, unless extended by the Commissioner, but not to be extended beyond December 31, 2028.