Rawlings-Blake unveils loan program for Baltimore small businesses

Mayor Stephanie Rawlings-Blake is unveiling Wednesday a micro-loan program for Baltimore's small businesses, an initiative aimed at creating and retaining jobs in the city.

BaltimoreMICRO will allow small businesses -- like retailers, contractors and service providers -- to apply for loans from $5,000 to $30,000. To be eligible, the business must be based in Baltimore City and not have annual revenue exceeding $1 million. The owner of the business must have a personal credit score of 650 or higher.