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
Each year 150+ community advocates review applicants on the basis of governance, equity, and impact. Each featured nonprofit has been successfully site visited and its financials given the thumbs up. Spur Local charges no fees and raises funds separately to support its work. Since 2003, it has raised over $57 million for nonprofits across the Greater Washington region.
Spur Local looks to friends like you to keep our services independent and entirely free of charge. Consider a small contribution to Spur Local to cap off your gift and help the causes you care about get the full support they deserve!
If you like Washington Area Community Investment Fund you might also like
-
Per Scholas National Capital Region (NCR)
Combats poverty by providing IT-training in underserved communities.
-
Urban Alliance
Provides professional skills training, paid internships, and mentoring for underserved youth.
-
Computer CORE
Provides low-income adults with technological and life skills for careers.
-
Britepaths
Provides emergency and long-term services to help those in need in Fairfax County.
-
Street Sense Media
Creates economic empowerment and artistic expression opportunities for homeless individuals.
