Washington Area Community Investment Fund Inc

TO INCREASE EQUITY AND ECONOMIC OPPORTUNITY BY INVESTING KNOWLEDGE, SOCIAL, AND FINANCIAL CAPITAL IN LOW- AND MODERATE-INCOME WASHINGTON AREA ENTREPRENEURS.

SMALL BUSINESS ADVISORY SERVICES - WACIF PROVIDES A VARIETY OF ADVISORY SERVICES TO LOW-TO-MODERATE INCOME ENTREPRENEURS TO DRIVE EQUITABLE AND OPPORTUNITY IN UNDERSERVED DC AREA COMMUNITIES. WACIF'S SMALL BUSINESS ADVISORY EXPERTISE AND OFFERINGS COVER TOPICS INCLUDING BUSINESS PLANNING, MARKETING, FINANCIAL STATEMENTS, LAW, REAL ESTATE AND GETTING TRANSACTION-READY. OUR OFFERINGS INCLUDE GROUP CLASSES, ONE-ON-ONE ADVISEMENT ON SPECIFIC CAPACITY BUILDING ISSUES TO IDENTIFY AREAS OF GROWTH, AND INTENSIVE, COHORT-BASED PROGRAMS LIKE OUR ASCEND CAPITAL ACCELERATOR, WHICH FEATURED THE ASCEND.HER COHORT, WITH SPECIALIZED SUPPORT FOR A COHORT OF WOMEN ENTREPRENEURS OF COLOR. IN 2021, IN RESPONSE TO THE COVID-19 PANDEMIC, WACIF DESIGNED AND DEPLOYED ADVISORY SERVICES TO SUPPORT THE RESILIENCE AND RECOVERY OF UNDERSERVED ENTREPRENEURS. WACIF MORE PROVIDED MORE THAN 1,500 UNITS OF TECHNICAL ASSISTANCE SMALL BUSINESS AND NONPROFIT CLIENTS; OFFERING SPECIALIZED FINANCIAL AND ADVISORY SERVICES THROUGH GREATER WASHINGTON, DC ENTERPRISING WOMEN OF COLOR BUSINESS CENTER, THE GREATER WASHINGTON, DC ENTREPRENEURS OF COLOR FUND, THE MINNESOTA AVENUE MAIN STREET PROGRAM, AND THE GREATER WASHINGTON CENTER FOR EMPLOYEE OWNERSHIP

LENDING PROGRAM - WACIF'S ACCESS TO CAPITAL (ATC) AND LENDING ACTIVITIES, WHICH TOTAL OVER $13.9M ASSETS UNDER MANAGEMENT (AUM), PROVIDE FLEXIBLE FINANCING FOR SMALL BUSINESSES OWNED BY, OPERATING IN OR SERVING LOW-TO-MODERATE INCOME COMMUNITIES. WACIF HAS SEVERAL LOAN FUNDS TO SUPPORT A CONTINUUM OF FINANCING FROM START-UP ENTREPRENEURS TO ESTABLISHED BUSINESS OWNERS THAT ARE UNABLE TO ACCESS TRADITIONAL FINANCING FROM BANKS - LENDING UP TO $250K. WACIF'S VARIOUS LENDING PROGRAMS BRIDGE THE FINANCING GAP FOR UNDERSERVED COMMUNITIES GRADUATING TO TRADITIONAL LENDERS, WHILE CREATING ECONOMIC OPPORTUNITY. DESPITE THE COVID-19 PANDEMIC AND THE ONGOING SATURATION OF GOVERNMENT-SUBSIDIZED, FORGIVABLE LOANS IN THE MARKETPLACE, IN 2021 WACIF LENT MORE THAN $1.8 MILLION TO UNDERSERVED ENTREPRENEURS. RECOGNIZING THE NEED FOR IMMEDIATE CASH FLOW SUPPORT, WACIF ESTABLISHED STRATEGIC PARTNERSHIPS THAT ENABLED THE ORGANIZATION TO DEPLOY MORE THAN $9.9M IN GRANT FUNDING TO OVER 512 LOCAL BUSINESSES, PROTECTING SMALL BUSINESSES AND LIVELIHOODS IN THE REGION. WACIF'S ATC FUND IS THE ORGANIZATION'S HISTORICAL SOURCE FOR COMMUNITY DEVELOPMENT FINANCING AND IT'S MOST FLEXIBLE. THE ATC FUND REMAINS A COMMUNITY ASSET WHICH BEGAN WITH AND HAS BEEN SUSTAINED FOR OVER 30 YEARS BY INDIVIDUAL AND INSTRUCTIONAL, SOCIALLY-RESPONSIBLE INVESTORS SEEKING POSITIVE FINANCIAL AND SOCIAL RETURNS FROM THEIR INVESTMENT. CURRENTLY COMPRISED OF OVER 63 INSTITUTIONAL AND INDIVIDUAL INVESTORS HOLDING OVER 75 INVESTMENTS, THE ATC FUND IS VALUED AT APPROXIMATELY $3.5M.