Maryland Department of Housing and Community Development Launches Own Your Future Program, Provides First Direct Loan to The Cube CoWork
New program will help small business owners build long-term wealth and stability
NEW CARROLLTON, MD (December 1, 2025) – Maryland Department of Housing and Community Development Secretary Jake Day today announced Baltimore-based coworking space The Cube CoWork has received the first direct loan through the Division of Business Development’s new Own Your Future program. Using federal State Small Business Credit Initiative (SSBCI) funding, the program seeks to empower small businesses and support their owners in building wealth by providing financing for owners to purchase space to operate in.
“Too many entrepreneurs are held back by rising rents and market uncertainty. Through Own Your Future, we’re giving Maryland’s small business owners the tools they need to build real, lasting wealth,” said Secretary Day. “With this investment through Own Your Future, The Cube CoWork will be able to put down permanent roots in Baltimore City, continuing its mission to empower working families and support entrepreneurs. We’re proud to stand behind Dr. Lucas’ vision and celebrate The Cube as our first Own Your Future recipient.”
The $725,000 loan to The Cube CoWork, which has been matched by the Neighborhood Impact Investment Fund, supported the business’ purchase of the 13,135-square foot building it currently leases in Baltimore’s Hamilton-Lauraville neighborhood. Founded in 2016 by Dr. Tammira Lucas, The Cube CoWork is the largest Black woman-owned coworking space in the United States and is the only coworking space in Maryland to also offer on-site childcare services for members, removing a major barrier to workforce participation.
“The Cube Cowork was created nine years ago to meet a real need for working parents, whether they are building companies or excelling in corporate and government careers. Our space has supported hundreds of parents through services that help them balance work, family, and opportunity,” said Dr. Tammira Lucas, owner of The Cube CoWork. “Securing our building was the natural next step in our growth and with the incredible support of DHCD and their team, that vision is now a reality. The Cube remains committed to expanding our impact for parents in Baltimore and across Maryland.”
The facility, located on Harford Road in Baltimore, features 17 offices, three meeting rooms and one event space. The Cube CoWork serves over 200 members each month with services like affordable coworking solutions, virtual mailbox addresses, and content production spaces. Additionally, The Cube CoWork also offers corporate memberships, providing partner businesses and their employees with access to the space’s facilities and services.
Supported by the lending partnership between the State of Maryland and the Neighborhood Impact Investment Fund, cost savings from the purchase of the property will allow The Cube CoWork to expand its team and fill a key staff role essential for executing its growth strategy, which includes expanding memberships, increasing rental revenue and growing virtual mailbox services.
“We are excited to have closed this transaction in partnership with DHCD to create a wealth building opportunity for a dynamic small business owner and helps to enhance a key commercial corridor on Harford Road,” said Mark Kauffman, President of the Neighborhood Impact Investment Fund. “We hope that this structure, which combines NIIF lending with financing from the State Small Business Credit Initiative can serve as a model and enable us to support other small businesses seeking to acquire and renovate their locations.”
Own Your Future is a program from the Department’s newest Division, the Division of Business Development. Under the leadership of Assistant Secretary Brad Fallon, the Division’s work supports Maryland small businesses and community revitalization by investing in areas and companies that are unable to access private funding. Businesses can use Own Your Future financing to purchase the space they’re currently operating within, move into a new space to call their own, or purchase their very first space to operate within. To learn more about the program, including eligibility requirements and loan terms, visit dhcd.maryland.gov.