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Maryland Community Investment Venture (MCIV) Fund - Financial Regulation

Last reviewed/updated: April 24, 2025

About the MCIV Fund

The Maryland Community Investment Venture (MCIV) Fund was created to accelerate the adoption of financial innovations that enhance access to capital and financial services for small business owners in low- to moderate-income (LMI) communities. The MCIV Fund provides grant dollars to fintech firms to pilot products and services in partnership with Maryland state-chartered financial institutions.

Benefits of Participation in the MCIV Fund Program

For selected fintech firms:

  • Funding: Access to grant dollars to develop and refine your solutions.
  • Pilot Opportunities: Collaborate with Maryland state-chartered banks and credit unions to pilot and deploy your technology.
  • Real-World Impact: Contribute to financial inclusion and make a tangible difference in LMI communities.

For partnering Maryland state-chartered institutions:

  • Expanded Customer Base: Collaborate with leading fintechs and help enhance your customer and member acquisition strategies.
  • Early Access to Innovation: Discover and pilot new technologies that address the unique financial needs of LMI communities.
  • Community Partnership: Underscore your commitment to financial inclusion and community development.

Connect with us

Are you a fintech with a groundbreaking solution to enhance financial access for underserved communities? Submit your interest here.

Reach out to us at mciv.fund@maryland.gov for more information.

FAQs

  1. What is the application process for MCIV Fund grants?
  2. When does the application window open for the MCIV Fund?
  3. Is there an application fee?
  4. What kind of funding does the MCIV Fund provide?
  5. Is a partnership with a financial institution required?
  6. How is the MCIV Fund different from other programs?
  7. I have additional questions. Where can I find answers?
  1. What is the application process for MCIV Fund grants?
    • Applications will be reviewed by an assessment committee and evaluated for impact, compliance, and viability.
  2. When does the application window open for the MCIV Fund?
    • The application window will open in June 2025.
  3. Is there an application fee?
    • No.
  4. What kind of funding does the MCIV Fund provide?
    • Fintechs that pair with a Maryland state-chartered financial institution and are approved will receive a $25k-$50k grant to conduct pilots.
  5. Is a partnership with a financial institution required?
    • Yes, pilots are conducted in partnership with Maryland’s state-chartered banks and credit unions.
  6. How is the MCIV Fund different from other programs?
    • The Fund is impact-driven with a commitment to expanding access to capital for LMI communities.
    • The program does not take equity - participating fintechs are supported by grant funding.
    • Participation in the program offers broad exposure and access to a network of senior stakeholders and resources throughout the State of Maryland.
    • Selected fintechs will have the opportunity to engage and develop partnerships with Maryland state-chartered financial institutions.
  7. I have additional questions. Where can I find answers?