Economic disparity and systemic inequality are stark and pervasive across the Washington region where white households have an average net worth 81 times that of Black households. And though entrepreneurship is critical to closing that gap, entrepreneurs of color are more likely to be denied loans, receive lower amounts, pay higher rates, or not apply at all. Wacif focuses on communities east of the Anacostia River for almost half its lending. It also offers robust advisory services, from one-to-one business counseling to intensive, multi-week courses. The businesses Wacif serves will continue to need its support as they face an uncertain, still changing, economy.
Headquarters: DC-Ward 5
Where They Operate: DC-Citywide; DC-Ward 1; DC-Ward 2; DC-Ward 3; DC-Ward 4; DC-Ward 5; DC-Ward 6; DC-Ward 7; DC-Ward 8; MD-Montgomery County; MD-Prince George's County; VA-Arlington County; VA-City of Alexandria
Age Groups Served: Adult (25-49); Seniors (50+)
Population(s) Served: Low- to Moderate-Income Community Members; Women/Girls
- Jobs created or retained annually:
108 Jobs created or retained - Amount lent in 2015 to underserved business owners:
$1,700,000 - Percent of clients that are women or minority-owned businesses:
75% - Hours of Business Counselling:
2,000
Awards & Recognition
DC Chamber of Commerce Chairman's Distinction Award - 2015
Press
- 'I could immediately imagine people dancing and leaping'
Fri Aug 12 2016, The Washington Post
A listing described a former taekwondo studio above a furniture store. Diana Movius wanted to build a dance studio for art on artists terms
- Washington Area Community Investment Fund Invests in DC
Sat Aug 29 2015, Hill Rag
Where do small businesses and budding entrepreneurs go when commercial banks find their proposals too risky? They go to Wacif.
- D.C. community investment fund hopes to double loan pool in next couple years
Thu Jul 2 2015, Washington Business Journal
The Washington Area Community Investment Fund's loan fund could double in the next few years.
- A Hand Up: Int he US, microfinance gives the smallest businesses a chance to grow
Fri Mar 27 2015, New York Times
Tim Flanagan strolls the streets of the Washington, D.C., working-class neighborhoods and points out businesses Wacif helped launch.
Budget (FY2022)
- The current budget for Washington Area Community Investment Fund is: $3 million or higher
- $1 million to $3 million
- $500k to $1 million
- Less than $500k
Catalogue charities range in size from $100,000 to
About Spur Local
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