"In order to become a major player in real estate development, a small business needs the necessary tools to increase financial viability," says NCRC president and CEO Anthony C. Freeman in a statement. "We created this initiative with that in mind, and are looking forward to assisting LSDBEs in increasing capital through expanded real estate services."

NCRC has just released a Request for Qualifications to solicit candidates. Criteria for participants include a demonstrated interest in the real estate industry and a commitment to development in the city. NCRC plans to partner with a company or team of individuals to help develop these opportunities. The chamber's contribution to the endeavor will include transaction services, marketing, business certification, licensing and professional networking opportunities.

One LSDBE contacted for this story says for the program to be successful it needs to act as a guarantor of loans. "That is where the problem is," Inner City Development LLC president Joel D. Heisey tells GlobeSt.com. "The biggest issue small developers have is getting financing." He points to his own situation as a prime example. "I have $2 million in net worth, properties I am willing to use as collateral but still have difficulty getting financing at 40% LTV."